BlackRock Inc., the world's biggest asset manager, hired itslong-time strategic and financial adviser Gary Shedlin as chieffinancial officer to replace Ann Marie Petach, who will move to aclient-oriented role within the firm.

Petach will be a senior managing director at BlackRockSolutions, New York-based BlackRock said yesterday in a statement.Shedlin, 49, a former vice chairman of investment banking at MorganStanley, will join the firm in March and become CFO after itreports its first-quarter earnings in April.

“Gary has an intimate knowledge of BlackRock and knows ourindustry well,” Laurence D. Fink, chief executive officer ofBlackRock, said in the statement. “I am confident that he will leadour finance operations as a partner in driving our business throughour next phase of disciplined growth.”

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