Money Management

BlackRock recruits sustainable investing CIO

Tariq Fancy was named chief investment officer of BlackRock (BLK)'s sustainable investing group, said an internal memo to staff obtained by Pensions & Investments.

It is a new position. Mr. Fancy will be responsible for integrating environmental, social and governance data, insights and technology across BlackRock's investment platform; helping standardize and improve client reporting on ESG risks and opportunities; and developing tools to assist investment teams in analyzing sustainable investing issues. He will report to Brian Deese, global head of the sustainable investing group.

The 11-person sustainable investing team currently oversees $195 billion in assets.

Mr. Fancy comes from The Rumie Initiative, a non-profit organization he founded that provides access to free digital education for underserved global communities.

BlackRock had $5.977 trillion in assets under management as of Sept. 30.