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☆ BlackRock is overhauling the way it advises powerful investors, from sovereign wealth funds to central banks
▼ + stars: | 2024-02-13 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

The shake-up targets the $10 trillion money manager's influential group that provides services to high-stakes institutional clients like sovereign wealth funds, insurers, and central banks. The group has ambitions to become "the most trusted advisor to financial institutions in our industry," he wrote. AdvertisementThe FSIG includes the firm's Financial Markets Advisory team and the Financial Institutions Group. It had also historically encompassed the Official Institutions Group, known as OIG, which will no longer be a stand-alone unit, a BlackRock spokesperson confirmed on Tuesday. She has been critical to driving relationships with institutions and "instrumental in making BlackRock the partner of choice for central banks globally," he wrote.

Persons: —, Volodymyr Zelenskyy, Charles Hatami, BlackRock's, Hatami, Isabelle Mateos y, OIG, Mateos y, Crystal Wan, Olivier Van Eyseren, Anne Parthiot, Mark Erickson, Kimberly Kim, Erickson, Hiro Shimizu, Philipp Hildebrand, BlackRock's Brandon Hall, Brandon Hall, Ben Leax, Rob Goldstein, FMA, Larry Fink Organizations: Service, Business, BlackRock's Financial, Strategic Investors Group, Business Insider, Financial, Group, BlackRock, International Monetary Fund, FIG, EMEA, Presidential, Brandon Locations: Isabelle Mateos y Lago, Hatami, Europe, Middle East, Africa, Asia, Pacific, Ukraine, Central Asia, US

☆ BlackRock is shaking up leadership of its influential consulting business
▼ + stars: | 2024-02-09 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +3 min

Read previewThe two executives who have ran BlackRock's influential consulting business since 2020 are each being promoted to new roles at the asset manager, a spokesperson told Business Insider, as BlackRock makes sweeping changes to its leadership ranks across divisions. The firm is naming Brandon Hall as the firm's deputy chief operating officer, reporting to Rob Goldstein, BlackRock's chief operating officer and a prominent leader at the company. He replaces Stacey Mullin, who had held the role since 2022 and was recently named chief of staff to BlackRock Chief Executive Larry Fink. He will report to Charles Hatami, who runs the group known as FSIG and heads up BlackRock's business in the Middle East. Martin Small, now the New York-based firm's chief financial officer, had previously held roles in FMA.

Persons: —, Brandon Hall, Rob Goldstein, Stacey Mullin, Larry Fink, Ben Leax, Charles Hatami, FMA, Goldstein, Martin Small, Hatami, Mark Wiedman, Fink, Mark Erickson, Mark Azzopardi Organizations: Service, BlackRock, Business, Financial, Hall, BI, Federal Reserve Bank of New Locations: New York, FMA, Federal Reserve Bank of New York

☆ Inflation is falling and the end of rate hikes is in sight - so why are bond yields still rising?
▼ + stars: | 2023-08-17 | by ( Max Adams | ) www.businessinsider.com time to read: +4 min

The 10-year Treasury yield is firmly above 4% in August, helping to stall the stock market's strong 2023 rally. But with the end of rate hikes in sight as inflation keeps falling, yields should theoretically be doing the opposite. Here's why Treasury yields have been steadily moving up this month. Rising yields have dented the stock market's stellar 2023 rally, confounding and frustrating markets that see an end in sight to the Federal Reserve's rate hiking campaign amid dwindling inflation. "Our base case remains that the U.S. economy will slow down/contract due to the elevated interest rates caused by the Fed rate hiking campaign," LPL's Gillum said.

Persons: Lawrence Gillum, Brandon Hall, screech, LPL's Gillum Organizations: Treasury, Service, LPL, Fed, JPMorgan, Tech Locations: Here's, Wall, Silicon, Treasuries, U.S

☆ Ukraine Recovery Conferece: War-torn economy needs private investors to rebuild
▼ + stars: | 2023-06-21 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

Ukraine faces an enormous fundraising challenge, and it’s one that governments and development finance institutions won’t be able to meet without help from private investors. The Ukraine Development Fund is still in the planning stages and is not expected to launch until the conflict ends. But it faces a crucial test Wednesday, when it will canvas support from governments and investors attending the London conference. Attracting private investmentThe Ukraine Development Fund aims to raise so-called concessionary capital from governments and development finance institutions, and then use that to attract private investment. Sunak also unveiled a “war-risk insurance” framework Wednesday, backed by Group of Seven countries, which will help limit potential losses faced by private investors in Ukraine.

Persons: London CNN —, Rishi Sunak’s, Antony Blinken, Sergei Chuzavkov, Volodymyr Zelensky, Stefan Weiler, JPMorgan’s, Weiler, It’s, ”, Brandon Hall, ” Hall, Yan Dobronosov, ” Zelensky, Sunak, ” Sunak, Lenna Koszarny, — Jo Shelley Organizations: London CNN, Conference, Citi, Sanofi, Philips, Bank, World Bank, BlackRock, JPMorgan, Ukraine Development Fund, CNN, Fund, London, BlackRock’s, Group of, Private, Horizon Locations: Russia, Ukraine, London, United States, Russian, Kyiv, Ukrainian, Europe, East, Africa, Kupiansk

☆ Inside BlackRock's powerful consulting arm that's made the most influential money manager an advisor to world powers
▼ + stars: | 2021-06-07 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +21 min

One of the reporters noted that Powell's public calendar showed calls with Larry Fink, BlackRock's chief executive, in March, April, and May. The exchange was hardly the first time no-bid contracts between the Fed and BlackRock's Financial Markets Advisory unit raised questions. Still, former employees told Insider that FMA has served as a clear source of public-facing clout for BlackRock. "The FMA clients have extended their advisory relationships to be multiyear." A little over a year ago, FMA pulled employees out of BlackRock's office there, three former employees said.

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