View more on these topics

Blackrock creates head of UK role in a managerial shake-up

Globe-Global-World-Map-700x450.jpgBlackrock has appointed Sarah Melvin to the newly created role of head of UK.

The move is a part of a wider managerial re-shuffle and business re-structure at the world’s largest asset manager.

In an internal memo seen by Money Marketing and sent to employess on Tuesday, Blackrock president Rob Kapito and chief executive Larry Fink wrote: “We need to be able to adapt quickly as the world changes around us. One way we develop this type of leader is by regularly moving people into new roles.”

The news follows Blackrock’s January annoucement, which revealed the changes at the company would cut 500 jobs in the process.

“Closer to clients”

The company said that by orienting more of its client businesses regionally, it aims to respond quickly to local client needs and preferences.

Kapito and Fink wrote: “People want and need help navigating an ever more complex world. They need a partner who can invest globally, yet at the same time be in tune with local realities and nuances.”

The company said the UK is one of its most important businesses globally with over $840bn of assets managed on behalf of British institutional and wealth clients.

Melvin has 13 year career at Blackrock both in the USA and the UK. She was most recently head of the institutional client business for USA and Canada. Previously was chief of staff to chairman and chief executive Larry Fink.

Prior to that, she was chief operating officer of Europe, Middle East and Africa retail and co-head of global corporate strategy. The company said Melvin takes the mandate to “lead holistic coverage across our UK clients, who represent nearly 10 per cent of the firm’s revenues.”

Melvin will report to head of Europe, Middle East and Africa Rachel Lord. She will assume her position in May.

Recommended

Solving the tax year-end pension planning puzzle

With 5 April fast approaching, advisers are busy swotting up on allowances and the most tax-efficient ways to invest clients’ retirement savings There is nothing like a deadline to focus the mind and spur people into action. Although advisers deal with tax planning throughout the year, the run-up to 5 April triggers a rush to […]

Justin Cash, Editor of Money Marketing
3

Blog: The curious case of Bank House Investment Management, or why consumers have no hope of understanding advice market regulation

Amid all the carnage from the FCA‘s probes into unsuitable defined benefit transfer advice, I have been following one case particularly closely. It concerns three advice firms – Financial Page, Henderson Carter Associates Limited, and Bank House Investment Management Limited – each of which have had various permission restrictions imposed on them by the FCA […]

Ros Altmann
4

Ros Altmann: Without advice Lifetime Isa savers face clear risks

Since it was first proposed, it has been clear to many that the Lifetime Isa is unsafe to sell without advice. Significant dangers arise from the product’s complex design, absence of clear risk warnings, lack of suitability checks and asymmetry of information between customers and providers. The first evidence of such problems is appearing. Lisas […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com