BlackRock building an Asia corporate strategy team

The US asset manager is busy forming a centralised strategy function for the region and has just made its second team hire from consulting firm McKinsey & Co.

The world’s biggest asset manager has long had sizeable corporate strategy teams in the US and other markets. Now AsianInvestor can confirm BlackRock is adding executives to its newly established Asia-Pacific team.

Terence Jen took up the role as Asia-Pacific head of corporate strategy last August. He had previously been BlackRock's head of corporate strategy for Japan.

Jen hired Fiona Lau in Hong Kong in October and last month added Shuichi Adachi in Tokyo, both as vice-presidents of corporate strategy. Both previously worked as engagement managers at consulting firm McKinsey & Co.

Adachi and Lau report to Jen, who in turn reports to Asia-Pacific chairman Rohit Bhagat and to the corporate strategy function in New York.   

Asked if further hires could be expected to the regional team, BlackRock spokeswoman Katherine Cheung says only that the firm continues to evaluate and plan for future hires in the strategy function.

The team is responsible for helping the company's business leaders to formulate strategies, implementing strategic initiatives and working closely with senior management to identify opportunities to grow the Asia-Pacific business in the medium to long term, Cheung notes.

“Having a robust corporate strategy function [in Asia-Pacific] is critical to ensuring we achieve our strategic goals,” she adds.

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