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BlackRock, Inc. (NYSE: BLK) today announced that Gary S. Shedlin, a long-time strategic and financial advisor to BlackRock, will join the Firm as Senior Managing Director and Chief Financial Officer. Mr. Shedlin will become a member of BlackRock’s Global Executive Committee, reporting to Chairman and Chief Executive Officer Laurence D. Fink.
Mr. Shedlin will succeed Ann Marie Petach, who is joining BlackRock Solutions as Senior Managing Director in the Client Solutions business, where she will help to develop critical client relationships and business initiatives with a special focus on solutions offerings for public and private pension funds. Mr. Shedlin will join the Firm on March 11, 2013 and work closely with Ms. Petach through a transition period until she completes her tenure as CFO following the reporting of BlackRock’s first quarter earnings results. Mr. Shedlin will assume the role of CFO at that time.
“We’re fortunate to have two executives with the depth and breadth of experience of Ann Marie and Gary assuming new roles with BlackRock,” Mr. Fink said. “As a key member of our senior management team, Ann Marie has helped guide the Firm through a number of significant milestones, including our acquisition of BGI and the transformation of our company to one with a broad base of shareholders. In addition, she has helped build our financial infrastructure to support one of the largest financial services companies in the world. We’re extremely pleased that Ann Marie is assuming this important new role with our Client Solutions business consistent with the desire she expressed last year to work directly with clients. This new role leverages her deep knowledge of BlackRock and her prior experience as a client to help build a key strategic area for the Firm.”
Ms. Petach said: “I’m looking forward to working more directly with our clients and assisting in solving some of their most pressing challenges. As a former corporate treasurer at Ford Motor Company who was responsible for pension, banking and risk management issues, and more recently as BlackRock’s CFO, I’m intimately familiar with the challenges facing many of our clients. BlackRock is uniquely positioned to assist these clients in the current environment, and I will be working with our team to offer clients solutions that leverage the full array of resources BlackRock has to offer them.”