Former Swiss National Bank Chairman Will Offer Unique Experience and
Insights to Institutional Investors
LONDON, Jun 13, 2012 (BUSINESS WIRE) --BlackRock, Inc. (NYSE: BLK) today announced the appointment of Philipp
Hildebrand as Vice Chairman of BlackRock, overseeing the Firm's largest
institutional client relationships in EMEA and Asia Pacific. His
appointment is effective October 2012.
In this new role, Dr. Hildebrand will work to enhance the Firm's
relationships with its clients as a true strategic partner. He will
coordinate closely with professionals across the Firm to deliver the
full breadth and depth of BlackRock's investment and risk management
expertise to clients and ensure they receive the solutions and insights
needed to achieve their objectives.
Dr. Hildebrand brings to his role almost 20 years of distinguished
leadership experience across asset management and banking, most recently
as Chairman of the Swiss National Bank ("SNB"). He will contribute a
unique perspective on global markets and economic trends to BlackRock's
investment teams and also represent the Firm to senior government
officials and regulators across EMEA and Asia Pacific.
Dr. Hildebrand will report directly to Laurence D. Fink, BlackRock's
Chairman and Chief Executive Officer, and serve as a member of the
Firm's Global Executive Committee, as well as its EMEA and Asia Pacific
"Few leaders are as widely respected for their expertise, judgment and
integrity as Philipp Hildebrand. He embodies superb qualities of
intellect and character that are critical to earning our role as a
trusted advisor to our clients," said Mr. Fink. "As a strategic advisor,
BlackRock is committed to continually delivering unique insights and
solutions to their increasingly complex investment and risk management
needs. Philipp will work with teams across the firm to deliver the best
of BlackRock to our clients."
Dr. Hildebrand, who will be based in London, was a member of the SNB
Governing Board from 2003 until January 2012. He was the youngest ever
SNB Chairman when he was appointed to the position in January 2010. He
also served as Director of the Bank for International Settlements in
Basel and was Vice Chairman of the Financial Stability Board. The
Banker magazine named him Central Bank Governor of the Year for
Europe in December 2011.
"BlackRock's deep investment expertise and superlative risk management,
together with its commitment to outstanding client service, have a
deserved and enviable reputation in the world," said Dr. Hildebrand. "I
look forward to working closely with institutional clients across EMEA
and Asia Pacific to understand their needs and address them with
solutions that draw upon the full spectrum of BlackRock's global
Prior to joining the SNB Governing Board, Dr. Hildebrand was at Union
Bancaire Privee ("UBP") in Geneva from 2001 until 2003, where he held
the positions of Chief Investment Officer and Member of the Executive
Board. Previously, Dr. Hildebrand was Chief Investment Officer of the
Vontobel Group in Zurich and a Partner at Moore Capital Management,
where he worked in London and New York. He began his professional career
in 1994 at the World Economic Forum.
Dr. Hildebrand was Chairman of the Deputies of the Group of 10 ("G10")
from 2006 to 2007 and has been a member since 2008 of the Group of
Thirty ("G30"), a private, international body composed of senior private
and public sector representatives and academics that aims to deepen
understanding of international economic and financial issues and to
examine the choices available to market practitioners and policymakers.
Philipp Hildebrand received his Bachelor of Arts degree from the
University of Toronto in 1988 and his Ph.D. in International Relations
from the University of Oxford in 1994. Dr. Hildebrand has also pursued
postgraduate studies at the Graduate Institute in Geneva, the European
University Institute in Florence and the Center for International
Affairs of Harvard University. In 2012, he was named a Senior Visiting
Fellow at the Blavatnik School of Government at Oxford University.
BlackRock is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
March 31, 2012, BlackRock's AUM was $3.684 trillion. BlackRock offers
products that span the risk spectrum to meet clients' needs, including
active, enhanced and index strategies across markets and asset classes.
Products are offered in a variety of structures including separate
accounts, mutual funds, iShares(R) (exchange-traded funds) and other
pooled investment vehicles. BlackRock also offers risk management,
advisory and enterprise investment system services to a broad base of
institutional investors through BlackRock Solutions(R). Headquartered in
New York City, as of March 31, 2012, the Firm has approximately 9,900
employees in 27 countries and a major presence in key global markets,
including North and South America, Europe, Asia, Australia and the
Middle East and Africa. For additional information, please visit the
Company's website at www.blackrock.com.
SOURCE: BlackRock, Inc.
Bobbie Collins (New York)
+44 (0) 20 7743 1249
+49 89 42729 5882 (Munich)