Mark Wiedman, BlackRock’s global head of client business, attended the Global Financial Leaders Investment Summit held in Hong Kong, China on November 8, 2023.
Xiao Tailong | Reuters
Mark Weidman, senior BlackRock A top executive with more than 20 years of tenure is leaving the asset management firm, according to a person familiar with the matter.
Wiedemann, who has served as head of global client operations for the past two years, is considered a potential successor to Chief Executive Larry Fink.
Widman was instrumental in driving the growth of BlackRock’s passive investing business. He led BlackRock’s exchange trading and index strategies from 2011 to 2019, while the business grew assets under management from $500 billion to $1.7 trillion.
Vindman joined BlackRock in 2004 and oversaw the company’s emergency assistance to governments and financial institutions during the financial crisis.
BlackRock is the world’s largest asset manager, with assets under management reaching a record $11.5 trillion in the fourth quarter. The company made two large acquisitions last year to fuel the expansion of private credit and alternative investments. In December, financial companies Agree to purchase HPS Investment Partners spent $12 billion buying shares as BlackRock looks to expand its presence in the popular private credit space. BlackRock also acquired Global infrastructure partneris an infrastructure investor that invested $12.5 billion last year.
