Just days after the Securities and Exchange Commission issued a recommendation that all financial advisors practice within the fiduciary standard of care, BlackRock announced it has hired an executive for that role in the company.
BlackRock has hired Nancy Everett as a managing director and head of U.S. Fiduciary Management Solutions, a newly created position. In that role, Everett will lead the growth and development of its fiduciary management solutions business, which provides investment management, advisory solutions and outsourcing to large institutional clients. Those clients include pension plans, endowments and foundations. Fiduciary outsourcing mandates, are managed by FMS within the company’s multi-asset client solutions, which managed $90 billion in assets, by Sept. 30.
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