As the chief investment strategist, Koesterich will focus on communicating the firm’s investment strategy and perspective on the markets and economy to investors and financial advisors.
He will report to BlackRock’s global head of multi-asset strategies, Ken Kroner.
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Meanwhile, Koesterich will continue to serve as global investment strategist for BlackRock’s iShares business, a role he has held since 2010.
Commenting on the appointment, BlackRock president, Robert Kapito, said: "Russ is highly regarded for his insights on the global financial markets and strategies for investors to navigate the rapidly changing new world of investing."
"In this new role, Russ will focus on communicating the best thinking to investors from throughout BlackRock, drawing on the full range of BlackRock’s capabilities across geographies, investment strategies and asset classes," Kapito added.
His association with BlackRock dates back to 2005, including his years with Barclays Global Investors (BGI), which BlackRock had acquired in 2009. At BGI, Koesterich was the global head of investment strategy for active equities and a senior portfolio manager in the US Market Neutral Group.
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