MONEY MANAGEMENT

BlackRock taps former Credit Suisse executive to co-run global credit

Timothy O'Hara was named managing director and co-head of global credit at BlackRock (BLK), said an internal memo to staff obtained by Pensions & Investments.

The position is new. Mr. O'Hara will join the firm sometime in April and work alongside managing director James Keenan in running BlackRock's $155 billion global credit business.

Mr. Keenan will focus on investing and alpha generation for clients, while Mr. O'Hara will focus on the business. Messrs. O'Hara and Keenan will report to Mark McCombe, senior managing director, head of the Americas and global head of BlackRock alternative investors.

Mr. O'Hara was head of global markets at Credit Suisse. He was replaced by Brian Chin, co-head of credit, Credit Suisse said in an earlier news release.