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Monday, November 29, 2010

Dyson Leaves BlackRock

News summary by MFWire's editors

Andrew Dyson has reportedly resigned as global head of BlackRock's [see profile] institutional asset management business.

Dyson's departure comes in the wake of an operational review, Financial News reports. A BlackRock spokeswoman told the pub that the company had unsuccessfully tried to reach an agreement with Dyson on other alternative posts. She said that while the firm was disappointed to be losing Dyson's services, other key regional heads will step in to fill Dyson's role.

In Dyson's stead, Robert Capaldi has reportedly moved from US business head to become senior client strategist reporting to CEO Larry Fink and president Robert Kapito. His successor has yet to be determined. Rob Fairbairn, head of the global client group, will take charge of the selection procedure.

Dyson took up his post at BlackRock following its takeover of his previous employer, Merrill Lynch Investment Managers, in 2006. Previously, he worked at Mercer as a senior investment consultant. 

Edited by: Hung Tran

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