BlackRock shakes up global top brass

Added 13th September 2017

BlackRock has made several changes across the firm at executive level, including the promotion of Rachel Lord to head of EMEA.

BlackRock shakes up global top brass

In an internal memo to staff, BlackRock chairman and chief executive, Larry Fink, and president, Rob Kapito, announced that Lord has succeeded David Blumer, who will move to the lead the firm’s alternatives business.  

Lord joined BlackRock four years ago as head of global clients for ETF and Index Investments (EII) and to lead the iShares business in EMEA. In her new role, she will report to Fink and Kapito and be a part of the global executive committee.

She has 30 years’ experience in financial markets having held a number of senior roles in equities, derivatives and capital markets at Citigroup and Morgan Stanley.

“In her four years at BlackRock, she has made her mark as a business leader and as a developer of talent – on her teams, through her work on the Human Capital Committee, and as executive sponsor of the Women’s Inititative Network,” the memo said.

She has been replaced as head of iShares EMEA by Stephen Cohen who previously led Fixed Income Beta, part of BlackRock’s Global Fixed Income team.

“In her four years at BlackRock, she has made her mark as a business leader and as a developer of talent."

Blumer has moved to head up BlackRock Alternative Investors (BAI), working closely with BAI chairman, Mark Wiseman.

Change in the Americas 

Elsewhere, it was announced that in the Americas, Mark McCombe will take on an “expanded leadership role”, reporting to Fink and Kapito from the San Francisco office.

He moves to the role having completed “important strategic work” in BAI. Since joining the firm in 2012, he has lead the Asia Pacific, global institutional and alternatives businesses.

The memo said: “With regulation, technology, and market forces further disrupting the ecosystem for asset management globally, Mark will help ensure that we develop a regional Americas strategy to grow our business and attract and retain the best talent to lead that change.”

 

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Sebastian joined Last Word Media in 2017 as editor of Portfolio Adviser. He previously spent 10 years as a journalist and editor in the UK institutional investment sector, most recently as editor of Portfolio Institutional. Prior to that, he held several roles at Professional Pensions which is part of Incisive Media.

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