Money Management

BlackRock shuffles some senior management positions

BlackRock (BLK) is reorganizing some of its managing directors, said an internal memo to staff obtained by Pensions & Investments.

Mark McCombe, senior managing director, head of the Americas and global head of BlackRock's alternative investors unit, is now taking on the sole role of head of the Americas. He reports to Laurence D. Fink, chairman and CEO, and Robert S. Kapito, president.

David Blumer, former head of the Europe, Middle East and Africa region, is assuming the role of global head of alternative investors. He will report to Mr. Kapito.

Rachel Lord will succeed Mr. Blumer as head of the EMEA region. She will join the global executive committee and report to Messrs. Fink and Kapito.

Ms. Lord was head of EMEA iShares. She will be replaced by Stephen Cohen, managing director and head of fixed-income beta at BlackRock. Mr. Cohen will report to Mark Wiedman, senior managing director and global head of iShares and index investments.

A BlackRock spokesman declined to comment on the changes. BlackRock had $5.69 trillion in assets under management as of June 30.