(Adds background on Thompson)
By Ashley Lau
Aug 15 The head of BlackRock Inc's
registered investment adviser business plans to leave that
position early next year to take a new senior adviser role at
the firm, according to an internal company memo.
Sue Thompson, who also oversees BlackRock's sales efforts
with asset managers and ETF investment strategists for the
company's iShares exchange-traded funds business, has asked to
move into the new role starting in the first quarter of next
year, according to the memo.
A company spokeswoman confirmed Thompson's move within
BlackRock and said a replacement has not yet been named, but
Thompson is working with other BlackRock executives on the
future organizational structure of the unit.
In her new role, Thompson will continue to support the
firm's RIA and ETF investment strategist clients while advising
the firm on initiatives to help investors using ETFs for
tactical exposures. She will continue to report to iShares
Americas institutional business chief Daniel Gamba and
BlackRock's U.S. wealth advisory business head, Frank Porcelli.
Thompson has played a key role in building out BlackRock's
presence within the RIA channel and the ETF investment
strategist community, a growing segment of the ETF market that
had some $103 billion in assets through the first quarter,
according to research firm Morningstar. She launched the iShares
Connect Program focused on this client segment.
She has also been active in supporting women executives
within BlackRock and the ETF industry, as founder and
co-president for the Women in ETFs organization and as a part of
BlackRock's Women's Initiative Network.
Thompson has been with the company since 2007, when she
joined Barclays Global Investors, which was acquired by
BlackRock in 2009. Previously a principal at Vanguard, she was
head of the sales team focused on national full service
BlackRock is the world's biggest money manager with nearly
$4.6 trillion in assets under management. It is also the largest
U.S. provider of ETFs through its iShares business, which
reached $1 trillion in assets for the first time last quarter.
(Reporting by Ashley Lau in New York; Editing by Dan Grebler
and Gunna Dickson)