McCombe	Stork

As part of its senior management shake-up, BlackRock has moved current Asia-Pacific chairman Mark McCombe to the role of global head of the institutional client business. Ryan Stork, a 13-year BlackRock veteran and currently the global head Aladdin client business within BlackRock, is named head of BlackRock Asia-Pacific, effective June 1 2014, and will transfer to Hong Kong from New York.

McCombe, who will also become chairman of BlackRock Alternative Investors, will be based in New York, but will continue to serve as Asia-Pacific chairman until the end of 2014 to facilitate a smooth leadership transition. Stork will assume the chairman role at the end of the year.

As head of the institutional client business, McCombe succeeds Rob Goldstein, who has been named as BlackRock's chief operating officer.

"For a number of years now, we have pursued a deliberate goal of building a deep bench of executive talent. An important element of this effort has been periodically moving leaders to roles that present them with new challenges, broaden their horizons and maximize their impact with the firm and our clients. This is the key driver of management changes we are announcing today," said Laurence Fink, chairman and CEO of BlackRock in a statement.

The management restructuring comes just a few days ahead of BlackRock's scheduled report of its 2014 first quarter results on April 17.

McCombe joined BlackRock in September 2011, moving from HSBC, where he was the CEO of HSBC Hong Kong. Previously, he led HSBC Global Asset Management.

As head of the Aladdin client business since 2009, Stork drove the growth of the business globally, broadening the international mix of clients on the platform, including key new clients in Asia, said Fink in the statement. "Earlier in his career, he played a key role in leading integration among our client businesses in Europe, the Middle East and Africa."