MONEY MANAGEMENT

BlackRock recruits Goldman exec to head U.S. fixed-income ETFs

Heather Brownlie was named U.S. head of fixed-income exchange-traded funds at BlackRock (BLK), spokeswoman Melissa Garville said. The position is new.

Ms. Brownlie will be responsible for leading the company's U.S. fixed-income ETF business across product, sales, capital markets and marketing. She will report to both the head of BlackRock's U.S. iShares business, Martin Small, and BlackRock's global head of fixed-income beta, Stephen Cohen.

BlackRock has $243 billion in U.S. listed iShares bond ETFs.

Ms. Brownlie was head of fixed-income for private wealth management at Goldman Sachs. It could not be learned if she was replaced; Goldman Sachs spokesman Andrew Williams declined to comment.