BlackRock will integrate its international operations with Merrill Lynch Investment Managers to create two broad international business units — institutional and retail — with dedicated individuals in charge of managing specific international regions, according to an internal memo distributed to employees of both firms May 10.
Robert Fairbarn, MLIM's COO for EMEA Pacific operations, will become chairman of the combined firm's overall Europe Middle East Africa/Australia business. Peter Fisher, chairman of BlackRock Asia, will be chairman of the combined firm's overall Asian operations.
When the two firms complete their merger later this year, the international institutional business will be led by Rich Kushel, currently a BlackRock managing director, and the international retail business will be headed by James Charrington, currently MLIM's managing director and head of the Europe, Middle East and Asia Pacific region. Messrs. Kushel and Charrington will also co-head the combined firm's international distribution and client servicing businesses for the institutional and retail groups, respectively.
In the institutional group, which will have a combined $215 billion in assets under management, Mr. Kushel will lead an eight-person international management team: MLIM's Andrew Dyson, who will lead the EMEA region; BlackRock's Ryan Stork, who will be deputy head of the EMEA region; BlackRock's Winnie Pun, who will lead the institutional business in the Asia-Pacific Region; BlackRock's Juan Buendia, who will head Latin America/official institutions; MLIM's Damien Frawley, who will be head of the Australia region; BlackRock's Hiro Arita, who will be head of the Japan region; BlackRock's Matthew Mosca, who will be the international institutional COO; and MLIM's David Graham, who will be head of "platinum clients." Mr. Graham will be responsible for working with account managers and sales staff to "bring the full complement of the combined firm's resources to the firms' largest institutional and retail clients," according to the memo.updated version
