Wednesday, February 13, 2013

BlackRock Names New CFO

BlackRock announced Wednesday February 13, 2013 that Gary Shedlin has been selected to become the next CFO.  Ann Marie Petach, the company’s long existing CFO will be retiring from her position.

Gary Shedlin is known for being the dealmaker leading BlackRock’s massive acquisition of Barclay’s iShares Unit in 2009. Gary Shedlin is moving to BlackRock from Morgan Stanley. 

In response to speculation that BlackRock is beginning positioning it’s self for new acquisitions Robert Kapito, the President, spoke up against those claims. Mr. Kapito noted that the firm would continue to focus on small acquisitions to round off product lines. BLK shares up +1.44% intraday.
-Source: Reuters. 

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