Mark Wiedman, a top BlackRock exec thought to be Fink's successor, is leaving the company
Published On Jan 14, 2025, 2:59 PM
Mark Wiedman, a senior executive at BlackRock who headed the global client business, is leaving the firm after more than 20 years. He was viewed as a potential successor to CEO Larry Fink and has played a significant role in BlackRock's expansion in passive investing, particularly through exchange-traded funds (ETFs). During his tenure, the assets under management in this area grew substantially from $500 billion to $1.7 trillion. His departure may impact BlackRock's ongoing strategies, especially after recent acquisitions aimed at enhancing private credit and infrastructure investments.
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Wiedman's departure could create uncertainty at BlackRock, particularly as it has been heavily investing in private credit and infrastructure, which may require strong leadership. Additionally, potential shifts in management could affect investor confidence.
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