BlackRock expands senior management roles as it unites passive arms

Combining ETFs and index-investing businesses

BlackRock has increased the responsibility of two of its senior staff members, Mark Wiedman and Mark McCombe, who run the group's iShares and alternatives businesses respectively.

The news comes as the fund giant also combines its iShares exchange-traded funds and index-investing businesses. Wiedman, who previously headed up iShares, will oversee the new combined unit effective immediately. He was responsible for almost $1.2trn at iShares, but will now manage $3.2trn of the group's total $5.1trn in assets. McCombe (pictured), co-head of the alternatives business, will take on the newly created role of head of the Americas from January. He will continue to co-head alternatives, while passing his role as global head of the institutional client business to Edwi...