Sept 16 (Reuters) - BlackRock ( BLK ) 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 ( BLK ) 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 ( BLK ), the report added.
A spokesperson for BlackRock ( BLK ) declined to comment on the
report.
Vice Chairman Mark McCombe will retire in early 2026, the
Financial Times added.
BlackRock ( BLK ) 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 ( C/PN ) to
manage about $80 billion in assets for the bank's wealth
management clients.