Canadian Pension Fund Chief to Join BlackRock
May 19 2016 - 9:05AM
Dow Jones News
By Sarah Krouse
BlackRock Inc. is adding the chief of Canada's largest pension
plan to its ranks of top leaders.
Mark Wiseman will join the world's largest money manager in
September as head of global active equity, charged with leading an
ongoing turnaround of its stock-picking unit. He will also become
chairman of the firm's global investment committee -- a subunit of
its executive committee -- and chairman of its alternatives
business, BlackRock said Thursday.
Mr. Wiseman has worked closely with BlackRock chief Laurence
Fink in recent years on an initiative called Focusing Capital on
the Long Term.
The appointment adds muscle to BlackRock's alternatives
business, an area it has tried to grow in recent years, and marks
the latest step in a yearslong effort by BlackRock to improve
performance in its actively managed equity funds.
Earlier this year, the $4.7 trillion asset manager combined its
traditional and quantitative equity funds into one group that it
said in January would be managed by executives Chris Jones, Nigel
Bolton, Raffaele Savi and Jeff Shen. Messers. Bolton, Savi and Shen
will now become co-chief investment officers of global active
equity at the firm, while Mr. Jones is leaving "to pursue other
opportunities," a spokesman said.
Mr. Wiseman was named president and chief executive of the
Canada Pension Plan Investment Board in 2012 after joining the
pension plan in 2005. The 282.6 billion Canadian dollar (about
$215.3 billion) fund invests in foreign and domestic stocks, bonds,
real estate and infrastructure.
He will work in New York and travel frequently, returning to
Toronto on the weekends.
BlackRock Chief Executive Laurence Fink said in a statement that
Mr. Wiseman had "deep experience in both public and private capital
markets globally -- having worked with and driven strong investment
results for some of the biggest and most sophisticated pools of
investment capital in the world."
Write to Sarah Krouse at sarah.krouse@wsj.com
(END) Dow Jones Newswires
May 19, 2016 08:50 ET (12:50 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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