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BlackRock Names Gary Shedlin Finance Chief - Update

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BlackRock, Inc. (BLK: Quote) 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.

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by RTT Staff Writer

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