BlackRock Names Cohen, Lord to Top Posts, Ramji to Step Down (1)

BlackRock Inc. is shaking up the top ranks of management, creating a new global product strategy group led by Stephen Cohen that will latch onto the global growth of exchange-traded funds and combine active and index strategies.

The world’s largest asset manager also promoted Rachel Lord as head of all international business across Europe, the Middle East, India and Asia-Pacific, BlackRock Chief Executive Officer Larry Fink and President Rob Kapito said Friday in a memo to employees.

Salim Ramji, global head of iShares and index investments, will leave BlackRock after a decade at the firm to pursue a ...