BlackRock Names New CFO
February 13, 2013
Time for a role call at BlackRock, which announced changes to its executive ranks today.
Gary Shedlin will join the firm as senior managing director and chief financial officer. He will serve serve as a member of the global executive committee and report to chairman and chief executive officer Laurence Fink.
Shedlin replaces Ann Marie Petach, who is joining BlackRock Solutions as senior managing director of client solutions. In her new role, Petach will help develop critical client relationships and business initiatives with a special focus on offerings for pension funds.
As CFO of BlackRock, Shedlin will handle all of the company's corporate finance functions including business finance, account, finance operations, tax, treasury and risk management, and investment products and controls. He will also manage investor relations, corporate development and strategy.
Shedlin will join the firm on March 11, working closely with Petach until she concludes her role as CFO after the reporting of BlackRock's first quarter earnings.
Regarding Shedline's appointment, Fink said, “Gary is well positioned to build on the world-class finance organization that Ann Marie has helped to establish. Gary has an intimate knowledge of BlackRock and knows our industry well. I am confident that he will lead our finance operations as a partner in driving our business through our next phase of disciplined growth."
Fink added that Petach "expressed the desire to work directly with clients," and looked forward to her role in building a "key strategic area" for the company.
Shedlin currently holds the position of vice chairman at Morgan Stanley, heading up investment banking and serving as managing director in the financial institutions group.
BlackRock managed $3.792 trillion in assets as of Dec. 31, 2012.
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