BlackRock Inc. has hired a new global chief marketing officer from digital media company BuzzFeed as the world’s largest money manager works to bolster its business from individual investors.
Frank Cooper, who spent the last 18 months as chief marketing officer and chief creative officer at BuzzFeed, plans to join the New York asset manager BLK, +0.81% in January, according to an internal memo seen by The Wall Street Journal.
He will report to Chief Executive Laurence Fink, who sent the internal memo and highlighted Cooper’s experience using “new marketing technologies to help organizations—from global consumer companies to technology startups—to drive growth.” Cooper is set to lead a marketing team that focuses on research and analytics, digital marketing and branding, the memo said.
Can Wall Street close this gender gap?
Women have only half the retirement savings of men, even though they control $ 5 trillion in investable assets. Can Wall Street get women to invest more?
Retail assets represented 12% of assets under management at BlackRock at the end of the third quarter, but 34% of its traditional investment fees. Its iShares exchange-traded fund unit accounted for 26% of assets and 37% of fees with its institutional business representing the balance.
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