logo
Share SHARE
FONT-SIZE Plus   Neg

BlackRock Names Gary Shedlin Finance Chief - Update

BlackRock, Inc. (BLK) Tuesday said Gary Shedlin, a long-time strategic and financial advisor to the company, will join the firm as Senior Managing Director and Chief Financial Officer.

Shedlin will become a member of BlackRock's Global Executive Committee, reporting to Chairman and Chief Executive Officer Laurence Fink.

Shedlin replaces Ann Marie Petach, who is joining BlackRock Solutions as Senior Managing Director in the Client Solutions business. In this role, she will help develop critical client relationships and business initiatives with a special focus on solutions offerings for public and private pension funds.

Shedlin will join the firm on March 11 and work closely with Petach through a transition period until she completes her tenure as CFO after reporting BlackRock's first quarter earnings results.

Shedlin joins BlackRock from Morgan Stanley, where he is Vice Chairman, Investment Banking as well as a Managing Director in the Financial Institutions Group. He has spent over 25 years advising companies in the financial services sector including as Chairman of the Financial Institutions Group at Citigroup and Managing Director and Co-Head of the Financial Institutions Group at Lazard.

He has served as an advisor to BlackRock on nearly all its most significant strategic transactions. As Chief Financial Officer, he will be responsible for BlackRock's Corporate Finance functions including Business Finance; Accounting; Finance Operations; Tax, Treasury and Risk Management; as well as Investment Products & Controls.

Shedlin will also be responsible for Investor Relations and Corporate Development as well as Strategy, which has a co-report to Fink.

BLK closed down 0.3 percent on Tuesday at $238.86.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Advanced Disposal Services Inc. joins the growing list of companies to postpone their initial public offering amid the volatility in stock markets. Breakfast and snack food giant Kellogg Co. on Thursday reported a loss for the fourth quarter that narrowed from last year as lower revenues were more than offset by a decline in costs and expenses. Adjusted earnings per share for the quarter topped analysts' estimates, while revenue fell short of expectations. Looking ahead, the company affirmed its financial outlook for fiscal 2016. French telecom equipment maker Alcatel-Lucent, which is being acquired by Finnish network equipment maker Nokia Corp., reported higher profit in its fourth quarter with strong revenue growth. All segments, mainly Next-generation technologies, and all regions, including North America and Asia, recorded higher revenues. The company also announced the successful completion of the Shift Plan.
comments powered by Disqus
RELATED NEWS
Trade BLK now with 
Follow RTT