Investment giant BlackRock has named Charles Hallac as its new co-president.
Bloomberg reported that Hallac, who was previously New York-based BlackRock’s chief operating officer, will share his new position with co-founder Rob Kapito. One of Hallac’s main responsibilities as co-president is to lead an effort to improve BlackRock’s technology efforts.
Rob Goldstein, who currently heads the institutional client business and the BlackRock Solutions advisory unit, will replace Hallac as COO. The appointments are effective June 1.
Hallac’s promotion is part of BlackRock’s leadership reorganization that will result in new roles for approximately ten senior executives.
BlackRock manages more than $103.4 billion in alternative strategies, including hedge funds, private equity and real estate. The firm has approximately $4.3 trillion in total assets.