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Friday, January 07, 2011

BlackRock Says Goodbye to BGI's Chief

News summary by MFWire's editors

The former chief of Barclays Global Investors is leaving BlackRock [see profile]. Bloomberg's Sree Vidya Bhaktavatsalam reports that Blake Grossman, who served as vice chairman and head of scientific investments at BlackRock, is leaving the asset management giant. (He has since dropped the scientific investments roles.) Grossman's departure comes a year after BlackRock closed on its acquisition of BGI.

Bloomberg cites a memo in which BlackRock CEO Larry Fink claims Grossman is leaving to "explore new opportunities." Yet don't expect Grossman to rush to his next job, whatever it might be.

"I'm not in a great hurry to figure out what's next," Grossman told Bloomberg. "I would like to step back and take a little time to determine what to do over the next few years." 

Edited by: Neil Anderson, Managing Editor

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