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$4.7 Trillion Money Manager Gets New Exec

$4.7 Trillion Money Manager Gets New Exec

The chief of Canada’s biggest pension fund is joining $4.7T asset manager BlackRock to lead the firm’s global active equity arm.

Mark Wiseman will oversee a continuing turnaround of the world’s largest money manager’s stock-picking unit, and he will also become chairman of the company’s global investment committee, the Wall Street Journal reports. The Canada Pension Plan Investment Board saw its assets increase by more than $75B under Wiseman’s leadership, and he’s worked closely with BlackRock recently on an initiative that promotes corporate governance and focuses on long-term growth.

This appointment bulks up BlackRock’s alternative businesses, a section the firm has been trying to grow in recent years. [WSJ]