Bloomberg Línea — In an alignment of its leadership in Latin America, BlackRock Inc. (BLK) is bringing Aítor Jáuregui from Spain to head the fund manager’s regional operations.
Jáuregui, who also oversaw both Andorra and Portugal, replaces Dominik Rohe, and will take charge of the firm’s iShares business in the region. He will begin his new role on March 1 and report to Armando Senra, one of BlackRock’s main executives for the Iberian peninsula and Latin American region. According to Spain’s FundsPeople, Jáuregui helped to build a business that manages nearly 40 billion euros in assets.
Globally, BlackRock is the largest asset manager, with $8.6 trillion in total assets. As Bloomberg News revealed, the firm is one of the global financial institutions exposed to the Adani Group’s $8 billion debt case. BlackRock owns about $104 million in bonds of the Indian conglomerate, one of the largest stakes, according to data compiled by Bloomberg from the most recent company filings.
BlackRock Inc. confirmed the leadership change to Bloomberg Línea by email.
In a memo to the company earlier this year, Larry Fink, the company’s CEO, said BlackRock planned to lay off 500 employees, or 2.5% of its global payroll, Bloomberg News reported. “The uncertainty around us makes it more important than ever that we stay ahead of changes in the market and focus on delivering for our clients,” Fink and President Rob Kapito wrote Wednesday in a staff memo seen by Bloomberg.
