BlackRock co-founder Barbara Novick to retire

Barbara Novick, Vice chairman of BlackRock, speaks during a Reuters Breakingviews panel in New York
FILE PHOTO: Barbara Novick, Vice chairman of BlackRock, speaks during a Reuters Breakingviews panel in New York, U.S. January 10, 2017. REUTERS/Lucas Jackson

January 13, 2021

(Reuters) – Asset manager BlackRock Inc said in a memo on Wednesday that co-founder Barbara Novick will retire from her role as vice chairman next month.

Novick was set to leave the firm last year but reversed her decision to retire after the COVID-19 pandemic roiled financial markets.

The Wall Street Journal reported Novick’s retirement earlier in the day.

BlackRock informed employees Novick will transition from her role as vice chairman to become a senior advisor on Feb. 1.

(Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)