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BlackRock appoints new senior managing director and CFO

US investment firm BlackRock has appointed Gary Shedlin as its new senior managing director and chief financial officer (CFO), reporting to chairman and chief executive officer Laurence Fink.

Shedlin will be accountable for the company’s entire corporate finance functions including business finance; accounting; finance operations; tax, treasury and risk management; and investment products & controls.

He will also be a member of BlackRock’s global executive committee and succeeds Ann Marie Petach, who has been promoted as senior managing director in the Client Solutions business of BlackRock Solutions.

Scheduled to join the asset manager on 11 March, Shedlin will work closely with Petach until she completes her term as CFO following the reporting of BlackRock’s first quarter earnings results.

Prior to accepting the current role, he was working with Morgan Stanley as vice chairman, investment banking and a managing director in the financial institutions group.

In his 25 years of financial services career, Shedlin also worked as chairman of the financial institutions group at Citigroup and managing director and co-head of the financial institutions group at Lazard.

Headquartered in New York and trading in 30 nations, BlackRock provides risk management, advisory and enterprise investment system services and had $3.792 trillion in assets under management as of 31 December 2012.