R3’s Rieder To Head BlackRock Fixed-Income Team

Aug 4 2010 | 2:52am ET

Rick Rieder, the founder of hedge fund R3 Capital Management, is set to take over BlackRock’s fixed-income unit amidst a round of asset management musical chairs.

Rieder, who joined BlackRock as head of the fixed-income alternatives portfolio team after the firm bought R3, will be chief investment officer of BlackRock’s fixed-income unit. He succeeds Curtis Arledge, who is to join Bank of New York Mellon as head of its asset management business.

Arledge’s move to BNY Mellon follows the departure earlier this year of Ronald O’Hanley for Fidelity Investments and the exit last week of Jonathan Little, one of the unit’s two interim co-heads.

Prior to founding R3 in May 2008, Rieder was head of global principal strategies at Lehman Brothers.

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