US fund house BlackRock is set to unveil Geir Espeskog as Asia-Pacific head of distribution for its iShares exchange-traded funds unit, as one of three transfers of senior executives from Europe and the US to roles in the region.
The other appointments will see Jason Miller become Japan head of iShares and Sean Cunningham head of iShares capital markets for Asia Pacific. All three appointments will take effect on January 1 and will report to Susan Chan, Asia-Pacific head of iShares.
Some of the appointees replace individuals who have left BlackRock, but the moves also reflect a company-wide policy of global rotation for its employees, said a spokesman.
Espeskog was most recently Denmark-based head of iShares for the Nordics. He will take on responsibilities previously under Heather Pelant, formerly Asia head of retail and private bank distribution. She left that post in April after an 18-month stint, as reported, and is now based in the US as head of BlackRock personal investing.
As head of iShares capital markets for Asia Pacific, Cunningham will assume the post previously held by Chan before she was promoted to regional head to replace Jane Leung. He is currently head of broker-dealer execution services for Emea at iShares.
In Japan, Miller will be responsible for developing iShares' Japan platform and has replaced Junichi Kamitsubo, who left in late September.
Miller is currently New York-based head of broker-dealer relationship management in the Americas iShares capital markets team. In his new role, he will report to Japan president Masato Degawa as well as Chan.
Chan said: “These moves from the US and Emea [Europe, the Middle East and Africa] are designed to deepen iShares knowledge from those markets to meet growing demand and usage of ETFs in Asia Pacific.”
Meanwhile, Jonathan Howie took on the new title of head of iShares Australia on November 5, formalising a role that he was effectively doing while Australia head of ETF product and strategy.
Of iShares' $1 trillion assets under management globally, around $50 billion are derived from Asia. BlackRock’s total AUM was $4.525 trillion as of September 30.