BlackRock Names Top Team
BlackRock, the U.S. fund manager owned partly by Merrill Lynch Investment Managers, has told employees in an internal memo of a second wave of senior appointments and the draft of a new business model.
Ralph Schlosstein, BlackRock president, takes control of the combined alternatives teams, which account for 4 percent of the combined assets under management.
Keith Anderson from BlackRock will continue to serve as global fixed income chief investment officer and Bob Doll, global chief investment officer for MLIM will serve as global equity chief investment officer. Doll will also serve as chairman of the private client operating committee.
Portfolio management will continue to be led by BlackRock vice chairman Rob Kapito, and the portfolio risk management group by BlackRock managing director, Ben Golub.
Barbara Novick, BlackRock managing director will head the account management group, which is responsible for business development, marketing and client service.
Senior portfolio management positions, and international institutional and retail structure are expected to be announced in early May, and the full talent review to be completed in June, said the memo.
BlackRock said the initial business model will place greater emphasis on regional responsibilities, supported by global functional departments.