BlackRock has tapped a Ernst & Young partner as its new chief financial officer. The New York City-based fund advisor and asset manager named Steven E. Buller to the post that is being vacated by Paul L. Audet on October 1. Audet will take over the firm's $80 billion cash management business, and its Delaware-based operations.

Along with his CFO duties, Butler will also become a managing director and a member of BlackRock's Management Committee. Audet and Butler will work together through year-end to ensure a smooth transition, according to BlackRock officials.

Buller is a partner and co-director of Ernst & Young's Global Asset Management Services practice. He also serves as E&Y's liaison to the Securities and Exchange Commission's Division of Investment Management and, for four years, was Chairman of the AICPA's Investment Companies Committee.

"We have known Steve and worked closely with him on a variety of financial matters for many years. We are delighted that he will be joining us and look forward to his contribution to BlackRock's continued growth and success," said Laurence D. Fink, chairman and CEO of BlackRock.

BlackRock, which is a publicly owned investment management firm, managed approximately $414 billion of assets under management at June 30, 2005. Earlier this year it also acquired the State Street Research and Management unit of MetLife. 

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