He is replacing Gary Shedlin, who held the position for nearly a decade after a career as a star investment banker where he advised on BlackRock's biggest deals. Martin Small, a longtime executive who leads BlackRock's key relationships with wealth management firms as head of US wealth advisory, will become chief financial officer early next year, the New York-based firm said on Monday. The firm is repositioning some of its most senior officials, including an executive seen as a close advisor to Chief Executive Officer Larry Fink, to work more directly with clients.Ĭonservatives, progressives, and everyday investors are criticizing BlackRock more intensely than in the past - in what one top executive recently described a wider societal focus on big money managers that wasn't prevalent a decade ago - leading the firm to defend its position and explain its strategies to clients and investors more vigorously. Jessica Tan, formerly a top strategy executive, will run a new sustainable investing unit.īlackRock is shuffling leadership among key executives at a pivotal time for the firm, as it faces widespread scrutiny over its size and environmental, social, and governance-focused investing strategy.

The firm is adding executives focused on client outreach as it faces heightened political scrutiny.BlackRock is set to replace its CFO early next year, the asset manager announced on Monday.Account icon An icon in the shape of a person's head and shoulders.

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