Barclays Global Investors (BGI), the asset management unit of Barclays Bank, has appointed Blake Grossman and Andrew Skirton as co-global CEOs, replacing Patricia Dunn, who is stepping down from that position for health reasons.

Grossman, who has been with BGI since 1985, was most recently chief investment officer of the firm's global advance active business. Skirton, who joined the company in 1989, was co-CEO of BGI's global index and markets group, responsible for index fund management, securities lending, transition services and cash management. Both Grossman and Skirton have served on BGI's global management committee.

Dunn decided to step down as global CEO to focus on her recovery from breast cancer and melanoma. She will remain with the firm in a non-executive role as vice chairman.

"Deciding to step down as CEO has been a tough decision," Dunn said. "My entire career has been with BGI, and I could not be prouder of its accomplishments and people. I feel confident that refocusing my priorities on health is the right move because the business is in a great position, performing strongly, and has exceptional depth. I know Blake, Andrew and the entire team will carry on with great success."

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