(Bloomberg) -- BlackRock Inc. is enlisting a former vice chairman of the Federal Reserve to help bolster its investment analysis across asset classes.
Stanley Fischer, who resigned from the central bank in October 2017, will join the BlackRock Investment Institute as a senior adviser, according to a memo provided by the firm. He will be part of a group offering analysis on markets and central banks, and help develop the firm's investment teams.
Fischer, 75, was governor of the Bank of Israel before joining the Fed in 2014. The BlackRock Investment Institute provides insights to the firm's portfolio managers and clients, looking at factors such as macroeconomic trends.
“His experience and expertise will help our investors and our clients grasp the impact of global developments on their portfolios,” Larry Fink, who is BlackRock's chief executive officer, and Vice Chairman Philipp Hildebrand wrote in the memo. The New York-based firm, with almost $6 trillion in assets as of Dec. 31, is the world's biggest money manager.
To contact the reporter on this story: Annie Massa in New York at amassa12@bloomberg.net
To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Josh Friedman, Dan Reichl
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
