Investment giant BlackRock has hired a White House employee to be the managing director of its advisory unit.
Bloomberg Businessweek reported that Sarah Bianchi, who is the director of economic and domestic policy for U.S. Vice President Joe Biden, will report to Craig Phillips, the head of the financial markets advisory group in BlackRock Solutions. BlackRock Solutions advises governments and institutions on hard-to-value assets.
Bianchi previously served as a policy director for Democratic presidential candidate John Kerry’s campaign in 2004, and to former Vice President Al Gore when he ran for President in the 2000 election.
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.