BlackRock has announced that Sarah Melvin has been appointed to the newly created role as head of the UK, for which she will return to London from the US.
She will come back to London in May from her most recent role as head of the institutional client business for the US and Canada. While over in the US, she also previously held the role as chief of staff to chairman and CEO Larry Fink.
Prior to her time in the US, Melvin was chief operating officer of EMEA retail and co-head of global corporate strategy at the firm. She has been at BlackRock for 13 years.
In her new role, she will have direct responsibility for the UK retail and institutional client businesses and will partner with EII, Cash, BRS, Aladdin Wealth and CSM to deliver the full suite of BlackRock products and services to UK clients.
She will report to Rachel Lord, head of EMEA, as well as becoming a member of the EMEA executive committee and chair of the newly created UK executive committee.
Commenting on the appointment, Lord said: "The UK is the largest third-party asset management market in Europe and one of BlackRock's most important businesses globally with over $840bn of assets managed on behalf of British institutional and wealth clients.
"It is also a market undergoing significant disruption due to political, regulatory and demographic trends. As our clients seek to navigate this changing environment, they need an asset management partner who can provide bespoke solutions and technology that enables them to meet their investment objectives and fulfil their purpose.
"This backdrop, combined with our scale and heritage in the UK, creates unique opportunities for BlackRock to serve clients."
The appointment is part of a raft of senior appointment as CEO Fink shuffles the top roles at the firm, according to Bloomberg.