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BlackRock Hires Citigroup’s Lord to Oversee ETF Unit in Europe

BlackRock Inc. (BLK), the world’s largest provider of exchange-traded funds, hired Rachel Lord from Citigroup Inc. (C) to oversee its iShares ETF unit in Europe, the Middle East and Africa.

Lord, who was global head of corporate equity derivatives at Citigroup, will be based in London and report to Mark Wiedman, global head of iShares, according to a statement today from New York-based BlackRock. Lord will replace Joe Linhares, who will return to the U.S. and coordinate the firm’s activities with its largest retail distribution partners.

BlackRock, which oversees $891 billion in ETF assets globally, is seeking to expand its ETF business in Europe and acquired Credit Suisse Group AG’s ETF unit earlier this year. Chief Executive Officer Laurence D. Fink has said weaker iShares deposits in the U.S. have been offset by strength in Europe and Latin America.

Before Citigroup, Lord worked at Morgan Stanley for 13 years, where she was head of corporate equity derivatives in Europe, the Middle East and Africa, and the Asia-Pacific region. She started her career in 1987 at Arthur Andersen and has a bachelor’s degree in international history and politics from the University of Leeds.

To contact the reporter on this story: Alexis Leondis in New York at aleondis@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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