Mark Wiedman, head of BlackRock’s international shopper enterprise, attends the Global Financial Leaders’ Investment Summit, in Hong Kong, Nov. 8, 2023.
Tyrone Siu | Reuters
Mark Wiedman, a senior BlackRock government with a tenure that spans greater than 20 years, is leaving the asset supervisor, in accordance with an individual acquainted with the matter.
Wiedman, head of the worldwide shopper enterprise for the previous two years, was believed to be a possible successor to Chief Executive Larry Fink.
Wiedman was instrumental in driving BlackRock’s progress in passive investing. From 2011 to 2019, he led BlackRock’s exchange-traded and index methods whereas belongings beneath administration within the enterprise elevated from $500 billion to $1.7 trillion.
He joined BlackRock in 2004 to supervise the agency’s emergency help to governments and monetary establishments throughout the monetary disaster.
BlackRock is the world’s largest asset supervisor with belongings beneath administration hitting a report $11.5 trillion within the fourth quarter. The agency made two huge acquisitions final yr in a push to broaden in personal credit score and options. In December, the monetary agency agreed to buy HPS Investment Partners for $12 billion in inventory, as BlackRock seems to develop its presence within the extremely standard personal credit score area. BlackRock additionally acquired Global Infrastructure Partners, an infrastructure investor, for $12.5 billion final yr.
