By Saqib Iqbal Ahmed

NEW YORK (Reuters) – BlackRock Inc (N:), the world’s largest asset manager has appointed Manish Mehta as global head of human resources effective immediately, according to a memo seen by Reuters on Monday.

Mehta, previously the global head of ETFs and Index Investments (EII) & Markets and Investments at BlackRock, replaces Rob Fairbairn who took over the role of head of human resources on an interim basis in July after the abrupt departure of then HR head Jeff Smith.

Following Smith’s departure, BlackRock Chief Executive Larry Fink met with a number of internal and external candidates before settling on Mehta, Fink said in the memo.

“Through his work in EII, Manish has garnered experience across a range of BlackRock functions, from markets and investments to technology and operations,” Fink said in the memo.

Fairbairn will assist with the transition before refocusing on BlackRock’s most important global clients, Fink said.

Mehta, who will also join BlackRock’s global executive committee, will report to Fink.

Mehta’s predecessor Smith left BlackRock after more than a decade at the firm because “he failed to adhere to company policy,” the asset manager said in July.

Samara Cohen and Alan Mason will succeed Mehta as co-heads of EII Markets & Investments, BlackRock said on Monday.

In April, BlackRock made several changes to its senior leadership ranks aimed at winning more business from top institutional clients and boosting growth of its alternative investing business.

BlackRock, whose shares are up about 9% this year, is expected to report third-quarter results on Oct. 15.

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2019-10-07