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BlackRock’s Grossman to Leave One Year After BGI Acquisition

Blake Grossman, the former chief executive officer of Barclays Global Investors, plans to depart one year after BlackRock Inc. completed the acquisition of BGI, to take time off before resuming a career in the financial industry.

Grossman will leave to “explore new opportunities,” after helping with the integration of BGI into BlackRock over the past year, CEO Laurence D. Fink said today in a memo to employees, a copy of which was obtained by Bloomberg News. Grossman, who will remain with New York-based BlackRock in an advisory role through the end of the first quarter, may partner with the company in the future, according to the memo.