(Bloomberg) -- BlackRock Inc.'s global head of human resources Jeff Smith is leaving the company after failing to adhere to company policy, according to a memo viewed by Bloomberg News.
“We expect every employee of BlackRock, especially our most senior leaders, to uphold the highest standards of conduct,” Chief Executive Officer Larry Fink and President Rob Kapito. said in the memo on Wednesday. The firm didn't disclose the policy Smith may have violated.
Vice Chairman Rob Fairbairn will take over Smith's responsibilities in the interim while a search for a replacement is conducted. Smith, 49, spent more than a decade at the company.
Melissa Garville, a spokeswoman for BlackRock, declined to comment on his exit and Smith couldn't immediately be reached for comment.
Smith was a member of the firm's global executive committee and managed recruiting, compensation and employee benefits and policies, according to his profile on BlackRock's website. That biography has been removed from the firm's website.
Before joining the world's largest asset manager in its acquisition of Barclays Global Investors, Smith was vice president of people development at Time Warner Inc. He received a bachelor's degree in psychology from the University of Connecticut in 1992 and a Ph.D in industrial-organizational psychology from Virginia Polytechnic Institute in 1997.
Reuters earlier reported on the move.
To contact the reporter on this story: Annie Massa in New York at amassa12@bloomberg.net
To contact the editors responsible for this story: Alan Mirabella at amirabella@bloomberg.net, Melissa Karsh
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
