Rachel Lord was named head of the European arm of BlackRock's iShares ETF division, according to an employee memo issued by the company on Friday.
She is replacing Joe Linhares, who will return to the U.S. to take on another, as yet unannounced, role with the firm.
Ms. Lord will take over as head of EMEA iShares later this year. Mr. Linhares will remain in Europe until the end of the year to ensure a smooth transition, according to the memo obtained by P&I Daily.
iShares European business held $174 billion as of June.
“Our primary challenge in Europe is growing the pie — expanding the ways clients use ETFs,” the memo said.
Ms. Lord had been head of corporate equity derivatives at Citigroup, according to the memo. A spokesman for Citigroup could not be immediately reached for information on a replacement for Ms. Lord.