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Friday, July 20, 2018

A Giant Grows In Seattle

News summary by MFWire's editors

The world's largest asset manager is expanding in the Emerald City.

New York City-based BlackRock [profile] now has more than 300 people in its Seattle office and is expected to add about 15 more this year, the Puget Sound Business Journal reports. Watch for BlackRock to expand the Seattle office further in 2019, too.

Senior managing director Mark McCombe, who oversees all of the Americas from BlackRock's San Francisco offices, calls Seattle one of BlackRock's "major hubs in North America." Since BlackRock bought Quellos in 2007, Seattle has been the headquarters for BlackRock's hedge fund unit, now called BlackRock Alternative Advisors, and the office is home to 60 of that unit's 90 employees, the Journal reports.

According to the local paper, the BlackRock Seattle office also includes a substantial operations presence (including people in accounting, data analysis, and quality control) and about 90 technologists. Top execs based in the office include: Kevin Donnelly, global head of data for the digital wealth unit; Jeff Dunbar, managing director and member of BAA; Grace Paulus, deputy head of the office and head of strategy and business management for BlackRock Data Services; and other BAA top brass. 

Edited by: Neil Anderson, Managing Editor

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