Black Rock CEO Mark Widman is about to leave the company, sources told Reuters

(Reuters) – Asset manager BlackRock (NYSE: ) Chief Executive Mark Widman is leaving the company, expected to replace CEO Larry Fink, two sources familiar with the matter said.

Widman will leave in the spring, the sources said, speaking on condition of anonymity.

One of the sources said Widman is leaving to pursue other opportunities. The origin is friendly and on good terms, the source said.

Widman’s departure, reported by the Financial Times earlier on Tuesday, comes a year after Salim Ramji left BlackRock in January 2024 to become CEO of asset management company Vanguard Group, which went public in May 2024.

Ramji was also considered to be Fink’s successor at some point.

BlackRock declined to comment when asked for more information.

Wiedmann, who was head of global client business in his most recent role at BlaRock, has held several key positions at the company since joining in 2004. Morgan Stanley (NYSE:

He was one of the key people behind the asset manager’s push into the low-carbon economy, helping to grow sustainable investments from $107 billion to $1 trillion, according to the company’s website.

From 2011 to 2019, he served as the global head of iShares and Index Investments, which grew from $500 billion to $1.7 trillion.

The startup aims to boost BlackRock’s footprint in private lending and infrastructure, with the company’s assets peaking in 2024 and following a major acquisition last year.

BlackRock is set to report its 2024 fourth quarter financial results on Wednesday.