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Rating:Porcelli Splits BlackRock's B-D Distro, With the Help of a JPMAM Bigwig Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, November 12, 2014

Porcelli Splits BlackRock's B-D Distro, With the Help of a JPMAM Bigwig

News summary by MFWire's editors

Frank Porcelli is reorganizing BlackRock's [profile] advisor distribution, and he's hiring a J.P. Morgan [profile] alum to lead part of the effort.

Jessica Toonkel of Reuters reports that today Porcelli, head of the U.S. wealth advisory business at BlackRock, sent an internal memo explaining that the giant asset manager is splitting its wirehouse distribution efforts from its independent broker-dealer distribution efforts. To that end, Reuters adds, early in 2015 former J.P. Morgan Funds global strategic relationships managing director Lee Beck will join BlackRock to lead the wirehouse channel.

"We are preparing to capture more fully opportunities in the independents and wirehouses," Porcelli reportedly writes in the memo.

Porcelli also revealed plans to rotate sales leaders between different channels and roles. 

Edited by: Neil Anderson, Managing Editor


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