June 8 BlackRock Inc said on Thursday it
hired Goldman Sachs' Heather Brownlie as its U.S. head of
Brownlie, who most recently was the global head of
fixed-income for private wealth management in Goldman Sachs'
investment management division, will lead BlackRock's
fixed-income ETFs unit across product, sales, capital markets
and marketing, a BlackRock spokeswoman said.
Derivatives expert Jim Hill has been appointed as adviser to
BlackRock's iShares ETF business, the spokeswoman said in an
BlackRock has been pushing investors to use ETFs more often
and in new ways. ETFs were initially seen as devices used to
track stock indexes, but BlackRock has aggressively marketed
fixed-income ETFs to institutions that normally use bonds.
That approach has paid off. U.S.-based bond ETFs attracted
record cash last quarter, according to researcher Morningstar
Inc, and iShares took in $4 in $10 of that money.
(Reporting by Kanishka Singh in Bengaluru and Trevor Hunnicutt
in New York; Editing by Sunil Nair)