Blackrock freezes hiring
Asset manager Blackrock has globally frozen hiring for a few weeks as the COVID-19 pandemic continues to develop, a source familiar with the situation said.
As reported by Reuters, a spokesperson said the firm had paused on making new offers.
“The source said plans made as recently as two weeks ago needed to be reviewed as Blackrock adjusts to a new way of doing business,” Reuters said
It said the hiring freeze underlined how painful the impact of the global selloff and COVID-19 would be for the real economy.
Currently, Blackrock had 16,200 employees in over 30 countries and had US$7.4 trillion ($12.8 trillion) in assets under management.
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
