BlackRock has announced a reshuffle of key managers of its investment units, the group revealed in an internal memo, all changes will take effect as of 1 February.
Among others, Rich Kushel will take on the role of head of Multi-Asset Strategies (MAS), reporting directly to BlackRock founder Rob Kapito.Kushel previously worked as chief product officer and head of Strategic Product Management for BlackRock.
Pierre Sarrau, currently deputy CIO Multi Asset Strategies (MAS) has been promoted to CIO of the department.
Within the fixed income team, Tim Webb, current head of International Fixed Income, will become the global head of Fixed Income, while Rick Rieder, CIO Fundamental Fixed Income will now assume the role of CIO of Global Fixed Income. Alex Claringbull will take on the role of regional lead and report to the UK Portfolio Solutions team which currently reports to Webb.
For the equities team, BlackRock plans to combine its Fundamental Active Equity and Scientific Active Equity groups into a unified business aimed at offering investors can more effectively access to both its data sciences and SAE franchise.
This new platform platform will be jointly managed by Chris Jones, Nigel Bolton, Raffaele Savi and Jeff Shen, who again report directly to Rob Kapito.
In addition, BlackRock will also establish a Real Assets Group aimed at offering investors further access to infrastructure and real estate, the team will be lead by Jim Barry, who will become head of the Real Assets Group in addition to continuing his responsibility as the global head of the Infrastructure Group.
Marcus Sperber will also play a key leadership role in the new group, continuing to serve as the head of Global Real Estate, and will report to Jim Barry.