BlackRock, Inc. (NYSE:BLK) today announced that Steven E. Buller has stepped down as Chief Financial Officer in order to tend to family health issues. He will remain with the firm as head of Global Accounting Policy and Controls. Paul L. Audet, head of BlackRock’s Cash Management business and former Chief Financial Officer, will serve as acting CFO. In addition, BlackRock announced that Ann Marie Petach, Vice President and Treasurer of Ford Motor Company, will join BlackRock midyear as a Managing Director and head of Business Finance.
“I am pleased to welcome Paul back to a role he served in so capably for seven years. We tapped into his expertise throughout our recent merger with MLIM and are confident that he will provide a seamless transition and strong leadership as we continue to build out our finance function,” commented Laurence D. Fink, Chairman and CEO of BlackRock.
“I would like to thank Steve and the entire Finance team for their tireless efforts throughout the integration. I understand and respect Steve’s decision and am thrilled that he will remain with the firm. I am confident that he will provide even greater contributions in a more focused, but equally vital role.
“Finally, I am excited to welcome Ann Marie to our team. I have worked with her over many years and know her to be an exceptionally talented and respected professional. I have great confidence that she will leverage her broad financial experience and quickly make meaningful contributions to the firm as a key member of our Finance team.”
Background on Paul L. Audet
Mr. Audet has been head of BlackRock’s Cash Management business since 2005. From 1998 to 2005 he served as BlackRock's Chief Financial Officer. Prior to joining BlackRock, Mr. Audet was a Senior Vice President - Finance at PNC Bank Corp. responsible for the investment management and mutual fund processing businesses and head of the holding company's Mergers & Acquisitions unit. Mr. Audet was also a member of PNC's Corporate Asset & Liability (ALCO) and Marketing Committees. He joined PNC in 1991 as Chief Financial Officer of PNC's eastern operations. Prior to joining PNC, Mr. Audet was a Senior Vice President for First Fidelity Bancorporation in New Jersey responsible for the Corporate Finance, ALCO, and Mergers & Acquisitions functions. Mr. Audet's previous professional affiliations were with Price Waterhouse & Co. and PaineWebber, Inc. He earned a BA degree, cum laude, in economics and accounting from Rutgers University in 1977.
Background on Ann Marie Petach
Prior to being elected to her present position at Ford in 2004, Ms. Petach was Assistant Treasurer for Ford Motor Company responsible for Pension Asset Management, Actuarial Studies, Affiliate Financing, Risk Management, Banking and Short Term Funding, European Operations, and South America Operations. Previously, she was Assistant Treasurer for Ford Credit with responsibility for North American and International Debt Management. She was also Director, Global Banking, with responsibility for worldwide banking relationships for Ford Motor Company, Ford Credit and Ford Credit Europe. She was also Treasurer of AutoEuropa, the former joint venture between Ford and Volkswagen that produces minivans for Europe. She was also Assistant Treasurer of Autolatina, the former joint venture between Ford and Volkswagen in Brazil and Argentina. Ms. Petach joined Ford in 1984 as a financial analyst in the Electronics Division. She holds a Bachelor's Degree in Business and Spanish from Muhlenburg College and a M.B.A. from Carnegie-Mellon University.
BlackRock is one of the world’s largest publicly traded investment management firms. As of December 31, 2006, BlackRock’s assets under management were $1.125 trillion. The firm manages assets on behalf of institutions and individuals worldwide through a variety of equity, fixed income, cash management and alternative investment products. In addition, a growing number of institutional investors use BlackRock Solutions® investment system, risk management and financial advisory services. Headquartered in New York City, the firm has approximately 5,000 employees in 18 countries and a major presence in key global markets, including the U.S., Europe, Asia, Australia and the Middle East. For additional information, please visit the Company’s website at www.blackrock.com.
Stay ahead of the news ... Sign up for our email alerts now