BlackRock Bolsters European Management As Part Of Post-Brexit Expansion

BlackRock, the world's biggest asset manager, has appointed two executives to oversee Continental Europe for the first time as part of its efforts to expand in the region, a memo to staff on Wednesday seen by Reuters showed.

Over the last two years, BlackRock had accelerated its investment in the region as a "strategic priority" and now ran more than $1 trillion, "making us the largest independent asset manager on the Continent," its head of Europe, the Middle East and Africa, Rachel Lord, said in the memo.

With "an ambitious strategy for growth" in the region, Lord said it needed "dedicated leadership" and so had appointed two country heads, Stephane Lapiquonne and Christian Hyldahl, to jointly lead the company's efforts.

(Reuters)