BlackRock has appointed Rachel Lord as the head of EMEA, replacing David Blumer who will now lead the firm’s alternative investors business.

Lord, who has been working at BlackRock since four years, will also join the firm’s global executive committee.

Lord previously headed BlackRock’s iShares business in EMEA. She will be replaced in this role by Stephen Cohen, who previously held the role of global head of fixed-income beta.

“In her four years at BlackRock, she has made her mark as a business leader and as a developer of talent – on her teams, through her work on the Human Capital committee, and as executive sponsor of the Women’s Initiative Network,” the firm said in an internal memo.

BlackRock Alternative Investors, which will be headed by Blumer, was previously led by Mark McCombe.

McCombe will now exclusively focus on spearheading the Americas region.

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