It is one thing for investment fund providers to talk about the expanding number of investment opportunities overseas. When a heavy hitter like BlackRock’s iShares appoints a strategist to cover foreign markets, however, it says the industry has developed a solid worldview on investing.
On Tuesday, BlackRock tapped one of its high-profile players, Russ Koesterich as global chief investment strategist to lead its newly created Global iShares Investment Strategy Group.
Koesterich is seasoned. He as been in BlackRock’s Scientific Active Equity Group since 2005, and in 2008 he published “The ETF Strategist”, a work that focused on using ETFs to manage risk and return within a portfolio.
The company said it made the moves in response to strong client interest. “Clients are increasingly asking us our views on markets around the world in which iShares offers access and liquidity, and our expertise on how to manage portfolios in various market conditions,” said Michael Latham, global head of iShares at BlackRock.
With more than 460 funds globally across equities, fixed income and commodities, iShares is clearly a force in the ETF market, so it did not want to pass up the opportunity to make the most of its position and offer a wide menu of investment choices and insights to investors. The company said the new group will provide insights into a variety of economic and investment topics, covering the asset classes, sectors and markets in which iShares offers access to investors. The iShares funds are traded on 19 exchanges worldwide.
Koesterich will assume his new title while holding onto his role leading the investment strategy team within BlackRock’s Scientific Active Equity Group, where he has been since 2005.
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Also on the move this week:
GenSpring Family Offices, based in Palm Beach, Fla., hired Matt Pohlman as a family wealth advisor in its Chapel Hill, N.C., office. He was director of client services for Franklin Street Partners, an investment firm in Chapel Hill.
The Insured Retirement Institute elected three executives to its board of directors. They are: Valerie G. Brown, chief executive officer of Cetera Financial Group; Marc Costantini, president of variable annuities at John Hancock Financial Services; and Larry Roth, president and chief executive officer of the AIG Advisor Group.
Oppenheimer & Co. appointed Stephen Todd Walker as its managing director of investments. He was senior vice president and corporate client group director in Morgan Stanley’s global wealth management group.
The Securities and Exchange Commission named Thomas A. Bayer its new chief information officer, to oversee the agency’s information technology functions. He advised banking and financial services clients on technology strategy, software development and program management solutions.