Business & Finance
Business and Finance
Business and Finance
Tue, April 12, 2011 BlackRock Appoints Michael Fredericks to U.S. Retail Head of BlackRock Multi-Asset Client Solutions Group
NEW YORK--([ BUSINESS WIRE ])--BlackRock, Inc. (NYSE:BLK) today announced that Michael Fredericks has joined the Company in a newly created position as Managing Director and U.S. Retail Head of BlackRock Multi-Asset Client Solutions (BMACS). In this capacity, Mr. Fredericks will be responsible for building and leading a team focused on the development and management of customized multi-asset solutions for the firma™s U.S. retail client base. Based in New York City, Mr. Fredericks will report to Michael Huebsch, Managing Director and head of BMACS, a 140- person team which develops and manages investment solutions involving multiple strategies and asset classes. At December 31, 2010, BMACS managed over $90 billion in client assets. He will work in close collaboration with the firma™s U.S. retail distribution effort which is led by Frank Porcelli, Managing Director and Head of the firma™s U.S. Retail business.
"We are seeing a growing trend among our retail partners seeking multi-asset solutions. We look forward to working with Michael and the BMACS team to create outcome driven solutions for our clients"
aMichael has the critical combination of being an experienced multi-asset class portfolio manager with retail aknow-howa™ to drive what is a tremendous growth opportunity for our firm. He is extremely well regarded in the retail sector,a said Mr. Huebsch. aWe are excited to have Michael join our team to bring sophisticated and customized institutional investment strategies to our U.S. retail client base.a
aWe are seeing a growing trend among our retail partners seeking multi-asset solutions. We look forward to working with Michael and the BMACS team to create outcome driven solutions for our clients,a said Mr. Porcelli. Total assets managed for BlackRocka™s U.S. Retail client base at December 31, 2010 was approximately $300 billion.
Mr. Fredericks joins BlackRock from J.P. Morgan Asset Management where he served as a portfolio manager with the firma™s Global Multi-Asset Group (GMAG), where he was responsible for the groupa™s retail asset allocation solutions. In this role, he managed both tactical constrained and absolute return strategies and co-managed the JPMorgan Diversified Fund and the JPMorgan Income Builder Fund.
Prior to joining J.P. Morgan in 2006, Fredericks was an equity analyst with Nicholas Applegate Capital Management. He also was an Investment Manager Research Analyst at Callan Associates.
About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2010, BlackRocka™s AUM was $3.561 trillion. BlackRock offers products that span the risk spectrum to meet clientsa™ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares®(exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of December 31, 2010, the firm has approximately 9,100 employees in 25 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at [ www.blackrock.com ].
