BlackRock

The appointment comes after an earlier announcement of broad leadership changes at the firm.

The leak included information on about 12,000 advisors who are clients at LPL Financial.

In the U.S., investors pulled $174 billion out of active equity funds last year as stock pickers struggled to outperform their benchmarks.

The leak affected advisors who do business with the asset manager’s iShares ETF unit.

Institutional withdrawals amounted to nearly $35 billion in the fourth quarter.

Nearly all of the outflows came from mutual funds and ETFs that posted losses.

Mark Wiedman’s takeover as head of international and corporate strategy could be a sign of larger changes ahead, a memo suggests.

BlackRock will see the largest reduction to its workforce since 2016.

It's the firm's largest headcount reduction since 2016.

Beyond U.S. equities, the power balance tilted broadly to index funds in 2018.