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BlackRock has announced that Morry Waked, global chief investment officer (CIO) of scientific active equities (SAE) and head of the Australia SAE business, has made a personal decision to leave the firm.
His is the second high profile departure at the company over the past few months after Maurice O’Shannessy, the managing director of BlackRock in Australia, resigned late last year following the company’s merger with Barclays Global Investors (BGI).
Waked will remain in the role until his investment responsibilities are transitioned to the Australia SAE team, a process the company anticipates will be completed by the third quarter of 2010.
Waked has worked in a number of key senior roles since he joined the company in 1997. Before his current role he was chief executive and chief investment officer of the BGI Australia business.
“It has been a great 12 and a half years, so this has not been an easy decision,” Waked said.
“I have been fortunate to work for a great organisation and with talented, committed people, with a focus on investment excellence and client service. The new combined firm has the talent and global footprint that will provide continuity for our current investment activities and leadership.”
BlackRock vice chairman Blake Grossman will assume the role of global CIO for the SAE group, effective immediately, while current head of research Andrew Jackson will assume the head of investments role for the SAE Australian Equities business.
Current head of the international strategies group Michael McCorry will take on a leadership role for the scientific investments business in Australia, and Russell Maddox will lead the fundamental equities and multi-sector asset portfolios.
