American asset manager BlackRock has named Dirk Schmitz as the new head of its business in Germany, Austria and eastern Europe, replacing Christian Staub.

Schmitz most recently served as the head of global markets for Germany at Deutsche Bank.

Staub has been serving as business head of Germany, Austria and eastern Europe at BlackRock since July 2014. He took over as the firm’s head of the institutional clients business in continental Europe in August 2017, replacing Peter Nielsen who was appointed as the firm’s global head of alternative specialists.

Staub also heads the firm’s Swiss operations, a responsibility that he will retain.

BlackRock has been on a hiring spree in the recent times. Most recently, the firm appointed Deborah Ho from Barclays Bank as its new head of South-East Asia.

In October 2017, the asset manager bolstered its client business management team in Australia with the appointments of Scarlett Dorney as director of client business, Jeannie Bredberg as director of retail client business, and James Waterworth as vice president and iShares specialist.

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In September 2017, BlackRock named Rachel Lord as the head of EMEA business. Lord succeeded David Blumer who was named head of the firm’s alternative investors unit.