Andrew Ang was named a managing director and head of the factor-based strategies group at BlackRock, spokesman Ed Sweeney said.
The position is new, and Mr. Ang will start in July. Mr. Ang will oversee BlackRock's factor-based investing strategies. BlackRock manages more than $125 billion in factor-based assets under managment. He will report to Ken Kroner, senior managing director and global head of multiasset strategies for BlackRock.
Mr. Ang was chairman of the finance and economics division and the Ann F. Kaplan professor of business at Columbia Business School.
Laurence D. Fink, chairman and CEO of BlackRock, told investors in an earnings call April 16 that BlackRock was looking to make “some very substantial hires” in its factor-based investing sectors in the near future.
BlackRock's AUM totaled $4.774 trillion as of March 31.
