BlackRock on Tuesday added 20 of its top executives to a committee which plays a vital role in shaping strategy for the world’s largest asset manager, the Financial Times reported on Tuesday citing a letter from chief executive Larry Fink and president Rob Kapito.
The appointments to BlackRock’s global executive committee include Sarah Melvin, head of the company’s UK business, and Mike Pyle, who is the deputy head of the portfolio management group within BlackRock, the report added.
A spokesperson for BlackRock declined to comment on the report.
Vice Chairman Mark McCombe will retire in early 2026, the Financial Times added.
BlackRock had in August promoted a senior member of its stewardship team to lead the company’s interactions with corporations in the Americas as part of a broader series of management changes.
The asset manager has been attempting to diversify revenue streams as it grapples with diminishing fees from lower-fee index strategies.
Earlier this month, it struck a deal with Citigroup to manage about $80 billion in assets for the bank’s wealth management clients.
Reuters
