BlackRock[profile] hired Harvard-educated
Tom Callahan, formerly NYSE Liffe U.S. CEO, as deputy head of its cash management group,
Bloomberg's Matthew Leising reported. Callahan will join BlackRock in September. Callahan helped create the New York Portfolio Clearing LLC, a joint venture between NYSE and Depository Trust & Clearing Corp., enabling investors to combine cash and derivative positions in one clearinghouse. He also ran the NYSE Euronext, the U.S. futures exchange.
BlackRock’s head of business, Richard Hoerner said:
BlackRock’s cash-management business has more than $250 billion in assets under management, which represents just under 10 percent of the global market share, Richard Hoerner, head of the business, said in a memo.
“Tom’s appointment is a reflection of our commitment to maintaining our strong market standing in this space,” Hoerner wrote.
To read the full story, click here.
Edited by:
Casey Quinlan
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