Stanley Fischer, former Federal Reserve vice chairman, is joining the BlackRock (BLK) Investment Institute as a senior adviser, according to an internal memo made available to Pensions & Investments.
A letter to colleagues from BlackRock Chairman and CEO Laurence D. Fink and Vice Chairman Philipp Hildebrand said Mr. Fischer will be "a key contributor" to the institute's research "and to its ongoing dialogue with clients on markets, economics, and central bank policy. He also will help inform and develop our own investment teams, including via the BlackRock Investment Academy."
Mr. Fischer, who was appointed by President Barack Obama, resigned from the Federal Reserve Board of Governors in October 2017. He also served as governor of the Bank of Israel, first deputy managing director of the IMF, chief economist of the World Bank, and vice chairman of Citigroup.
"Stan adds a unique and invaluable perspective on the macro issues that are shaping our world today. His experience and expertise will help our investors and our clients grasp the impact of global developments on their portfolios," the letter said.