Wednesday, 27 August 2014
Last updated 3 hours ago
Sep 7 2007 | 8:35am ET
BlackRock co-founder Ralph Schlosstein is leaving his post as president in order to “pursue other entrepreneurial interests.” In his place, BlackRock’s board of directors has appointed Robert Kapito, BlackRock's former head of portfolio development, as president, effective immediately. Schlosstein will remain with the firm as an advisor until early 2008, helping to ensure an effective transition, according to the firm.
In his new role, Kapito will be responsible for day-to-day oversight of key operating units, including the account management and portfolio management groups, real estate and BlackRock Solutions. He will report to BlackRock chairman and CEO Laurence Fink.
“Ralph approached me earlier this year to consider the possibility of pursuing outside entrepreneurial interests at some point in the future,” said Fink. “He and I have worked closely together over the past several months to develop a transition plan that ensures BlackRock will not miss a beat. I am profoundly grateful for his contributions, and hopeful that BlackRock will be able to play an important role in supporting Ralph’s future endeavors.”
“I am very excited about pursuing my longstanding entrepreneurial interests, knowing that BlackRock is in great hands and that it will move forward to even greater success,” said Schlosstein.
Publicly traded BlackRock managed $1.2 trillion in total assets as of the end of June.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...