Charles Hatami, a managing director at BlackRock, was named head of the company's financial markets advisory group, said an internal memo provided by the firm.
He replaces Craig Phillips, who will retire. Mr. Phillips plans to stay at BlackRock until mid-2017 to ensure a smooth leadership transition.
After he leaves BlackRock, Mr. Phillips “would like to consider a possible transition to the public sector,” the memo said.
Mr. Hatami will assume leadership of BlackRock's advisory division, which provides impartial advice to holders of complex risk exposures, including financial institutions, government entities, central banks and other public and private capital markets participants. He will report to Mr. Phillips and Rob Goldstein, chief operating officer and global head of BlackRock Solutions.
Mr. Hatami was co-head of the financial markets advisory group in the Europe, Middle East and Africa region.
BlackRock had $4.89 trillion in assets as of June 30.