(Reuters) -Asset manager BlackRock’s senior executive Mark Wiedman, who was touted to be a potential successor to CEO Larry Fink, is departing the firm, the Financial Times reported on Tuesday, citing four people close to the company.
BlackRock’s board described Wiedman in a regulatory filing last year as one of the three “senior leaders who we believe will play critical roles in BlackRock’s future,” the report added.
Wiedman’s exit comes a year after another executive, Salim Ramji, left BlackRock in January 2024 and went on to become the CEO of asset management company Vanguard Group, which was announced in May 2024.
Ramji was also once touted to be a potential successor to Fink.
BlackRock declined a comment when asked for more information.
Wiedman, who was the head of global client business at BlackRock in his most recent role, held several key positions at the company since he joined in 2004 from Morgan Stanley.
He was one of the key figures in the asset manager’s push towards a low carbon economy, helping sustainable investments grow from $107 billion to $1 trillion, according to the company website.
He also acted as the global head of iShares and Index investments, between 2011 and 2019, which grew from $500 billion to $1.7 trillion.
(Reporting by Pritam Biswas in Bengaluru; Editing by Alan Barona)
