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In all, about 20 directors are said to be having their roles shift.īlackRock, a $6 trillion asset manager, is coming off of disappointing 4Q results, with AUM dropping 5% YoY and profits declining. In addition to giving more power to executives in their respective regions, BlackRock has also made Mark McCombe chief client officer in a move that could position him to eventually supplant founder and CEO Larry Fink. The chairman of the group-which focuses on strategies including private equity, hedge funds, real estate and commodities-is Mark Wiseman. Jim Barry, the firm's head of real estate and infrastructure investing, will become the division's new chief investment officer. In a major executive shakeup, global asset manager BlackRock will make sweeping changes to its leadership team, with its alternative investing division receiving perhaps the most extensive makeover.Įdwin Conway, the head of the firm's institutional client business, will replace David Blumer as the new head of BlackRock Alternative Investors, according to an internal memo seen by multiple news outlets.