Larry Fink has created a new job at BlackRock [profile], chief investment strategist, and named Russ Koesterich to fill it.

In this role, Koesterich will focus on communicating the firm’s investment strategy and perspective on the markets and economy to investors and financial advisors. He will report to Ken Kroner, BlackRock’s global head of multi-asset strategies.

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Company Press Release

BlackRock Names Russ Koesterich as Chief Investment Strategist

Will Articulate Best Thinking from BlackRock for Investors across Full Range of Assets Classes and Investment Strategies

BlackRock, Inc. (NYSE:BLK) today announced that it has named Russ Koesterich as Chief Investment Strategist. In this newly formed role, Mr. Koesterich will focus on communicating the Firm’s investment strategy and perspective on the markets and economy to investors and financial advisors. He will report to Ken Kroner, BlackRock’s Global Head of Multi-Asset Strategies.

“Russ is highly regarded for his insights on the global financial markets and strategies for investors to navigate the rapidly changing new world of investing,” said BlackRock President Robert Kapito. “In this new role, Russ will focus on communicating the best thinking to investors from throughout BlackRock, drawing on the full range of BlackRock’s capabilities across geographies, investment strategies and asset classes.”

“The financial world is more uncertain than it’s ever been and a succession of seismic events has left investors unsure of what to do next,” said Mr. Koesterich. “We believe that opportunities do exist for investors, and I look forward to working with my colleagues across the globe, including in the BlackRock Investment Institute, to provide investors with answers for this new world of investing.”

Mr. Koesterich is a frequent contributor to financial news media. He is the author of two books, including his most recent "The Ten Trillion Dollar Gamble," which details how to position portfolios for the impact of the growing U.S. deficit. He is also regularly quoted in print media including the Wall Street Journal, USA Today, and Barron’s, among others.

Mr. Koesterich will continue to serve as Global Investment Strategist for BlackRock’s iShares business, a role he has held since 2010. His service with BlackRock dates to 2005, including his years with Barclays Global Investors (BGI), which BlackRock acquired in 2009. At BGI, Mr. Koesterich was the Global Head of Investment Strategy for active equities and a senior portfolio manager in the U.S. Market Neutral Group. Prior to joining BGI, he was Chief North American Strategist for State Street Bank. Mr. Koesterich began his career at Instinet, where he occupied several positions in research, including Director of Investment Strategy for both U.S. and European research.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2012, BlackRock’s AUM was $3.673 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of September 30, 2012, the firm has approximately 10,400 employees in 29 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website at www.blackrock.com.

 

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