BlackRock reorganizes Financial & Strategic Investors Group

By Thomson Reuters Feb 13, 2024 | 2:08 PM

(Reuters) – BlackRock is changing the organizational structure of its Financial & Strategic Investors Group (FSIG), which works with high-net-worth institutional clients such as sovereign wealth funds, according to an internal memo seen by Reuters.

The announcement follows the world’s largest asset manager unveiling changes to its senior management structure last month, at a time when speculation has been growing over who will succeed CEO Larry Fink.

“As we embark on the next leg of our journey, we are adjusting our organizational structure to accelerate momentum,” said Charles Hatami, global head of FSIG.

The changes at FSIG include reorganization of reporting lines across the world to bring regional heads closer to relevant clients, the memo showed.

(Reporting by Manya Saini in Bengaluru; Editing by Alan Barona)