and Rob Kapito
are shaking up their senior investing team next month.
| Laurence D. Fink|
Chairman, Chief Executive Officer
both report that, per an internal BlackRock
] memo penned by Fink and Kapito: the equity teams will combine, a new real asset group will form, and the fixed income and multi-asset units will have new chiefs.
On the fixed income side, Tim Webb
will reportedly rise to head of global fixed income while Rick Rieder
will serve as global fixed income chief investment officer. Webb is currently international fixed income chief and Rieder is currently fundamental fixed income CIO. Webb will report to Kapito, BlackRock's president.
On the multi-asset side, current chief Ken Kroner
will reportedly retire this year. Meanwhile, the unit's chairman, Philipp Hildebrand
, will reportedly take over the BlackRock Investment Institute. Rick Kushel
will succeed Kroner atop the multi-asset unit. Kushel currently serves as chief product officer and head of strategic product management and will report to Kapito.
| Robert Kapito|
Kroner also leads the scientific active equity (i.e. quant) group. Word is that Kapito is combining Kroner's quant team with the fundamental equity team, all of which will report to Kapito. Per Bloomberg
, Nigel Bolton
, Chris Jones
, Raffaele Savi
, and Jeff Shen
will manage the combined equity teams.
The wire service also reports that Jim Barry
, global head of the infrastructure group, will now lead BlackRock's new real asset group. That group combines Barry's infrastructure group with the real estate investing unit.
Neil Anderson, Managing Editor
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