Business & Finance
Business and Finance
Business and Finance
Wed, September 7, 2011
Tue, September 6, 2011 BlackRock Appoints Senior Portfolio Manager for U.S. Fiduciary Business
NEW YORK--([ BUSINESS WIRE ])--BlackRock, Inc. (NYSE: BLK) today announced that Mark Taborsky will join the company as a Managing Director and Senior Portfolio Manager within its Multi-Asset Client Solutions (BMACS) group. Specifically, Mr. Taborsky will have direct oversight of client assets within the U.S. Fiduciary Management Solutions (FMS) business of BMACS. Most recently, he served as Executive Vice President at PIMCO, where he was responsible for asset allocation strategies and European solutions efforts.
"Marka™s distinguished track record across multiple investment strategies and asset classes will enhance our ability to deliver superior returns and investment solutions to our clients."
BlackRock's U.S. FMS business provides investment management, advisory solutions and outsourcing to institutional clients, including U.S. pension plans, endowments and foundations. Fiduciary outsourcing mandates, in which a client retains BlackRock to assume responsibility for some or all of their assets, are managed by FMS. At June 30, 2011, BMACS, led by Michael Huebsch, managed $126 billion in assets including $50 billion in fiduciary assignments globally.
In this newly created position, Mr. Taborsky will be responsible for developing, assembling and managing investment solutions involving multiple strategies and asset classes for U.S. based fiduciary clients. He will also help develop and build out FMSa™ investment capabilities across all client segments including endowments, foundations, pension plans, sovereign wealth funds and high net worth and retail clients. Mr. Taborsky will report to Nancy Everett, Managing Director and Head of U.S. FMS.
aWe are thrilled to be adding a portfolio manager of Marka™s caliber to BlackRock,a said Mr. Huebsch. aToday, BMACS has a robust fiduciary business in EMEA a" the result of years of investment to serve our clientsa™ comprehensive needs. By bringing in Nancy to lead the Firma™s U.S. FMS business earlier this year and now with Mark serving as a senior portfolio manager, wea™re putting the necessary talent in place to expand our geographic footprint and build a global fiduciary business at BlackRock.a
aWe have made good progress in building the U.S. FMS business to date. We anticipate Marka™s arrival will add to the strong momentum that is underway and we look forward to continuing to partner with clients and their consultants across our business,a said Ms. Everett. aMarka™s distinguished track record across multiple investment strategies and asset classes will enhance our ability to deliver superior returns and investment solutions to our clients.a
At PIMCO, Mr. Taborsky led the successful build out of their liquid asset allocation fund. Before joining PIMCO, he was Managing Director of the external management group at Harvard Management Company in Boston, where he managed the majority of Harvarda™s external manager relationships across asset classes. Mr. Taborsky holds a Bachelor of Commerce degree from McGill University and an MBA in Finance and Policy from the University of Chicago Booth School of Business.
About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2011, BlackRocka™s AUM was $3.659 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 June 30, 2011, the firm has approximately 9,700 employees in 26 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 ].
