BlackRock Australia has announced its institutional and retail distribution arms will amalgamate, resulting in a reshuffle of existing leadership teams.
BlackRock says the decision to bring the two arms of the business together is intended to “improve service to clients by streamlining delivery of the firm’s global investment capabilities and technology solutions”. BlackRock Australia’s country head Dominik Rohe said the move reflected a change in Australian markets.
“Regulatory reform, advances in portfolio risk and compliance technology – as well as developments in advice and retirement solutions – have blurred the line between Australia’s institutional and wealth sectors. This creates enormous opportunities for the superannuation and advice industry,” Mr Rohe said.
As a result of the merging of the two arms of the business, Jason Collins will now take on the newly created role of head of client business, partnering with BlackRock Australia’s head of iShares Jon Howie and BlackRock Solutions’ James Crozier.
“Jason has led a successful institutional business over the past three and a half years, and his experience in the wealth sector positions him well to manage BlackRock’s distribution efforts, while building long-lasting and impactful partnerships with our Australian client base,” Mr Rohe said.
BlackRock Australia also announced the appointments of Paula Gigler, James Stewart, Dan Annan, Stuart Anderson, Dylan Wedande and Jackson Lee to support the newly amalgamated teams.
Mr Collins said the company was delighted to have them on board.
“Bringing together the institutional and retail distribution teams will allow us to explore synergies between the two disciplines and think through new ways of serving our clients in Australia,” he said.
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