Money Management

BlackRock bolsters client portfolio solutions team

BlackRock (BLK) expanded its client portfolio solutions capacity with three recent hires.

Martin Jaugietis joined BlackRock on Sept. 4 as managing director and Americas co-head of the firm's client portfolio solutions pensions team, BlackRock spokeswoman Melissa Garville said.

In this new position, Mr. Jaugietis and fellow co-head, Gabriella Barschdorff, oversee construction of outsourced investment portfolios for pension fund clients and provide investment support for BlackRock's institutional client business, Ms. Garville said.

Mr. Jaugietis was managing director and client portfolio manager on Russell Investments' client portfolio management team, Russell spokesman Steve Claiborne said in an email. His duties have been assumed by remaining members of the team while "we assess options," he said.

Joseph Gelly and Matthew Weinstein joined the pension OCIO team as relationship managers within BlackRock's institutional client business. Both positions are new, Ms. Garville said.

Mr. Gelly, a managing director, joined BlackRock in July in the firm's Boston office. He was a partner and head of sales and distribution for a number of Mercer Investments' strategy units, including OCIO, multiasset, advisory and wealth management.

Alayna Francis, a Mercer spokeswoman, did not reply to a request for information about Mr. Gelly's replacement.

Mr. Weinstein joined BlackRock in June as director. He was vice president of institutional sales at Goldman Sachs Asset Management.

GSAM spokesman Patrick Scanlan declined to comment regarding Mr. Weinstein's successor.

BlackRock managed $6.3 trillion as of June 30.