BlackRock cuts jobs
BlackRock Investment Management has cut 10 staff from its team, from across the property, marketing and operations teams.
BlackRock’s direct property acquisitions manager Charles Bryant has been made redundant as a result of the decline in opportunities for property acquisitions in the current environment. Craig Blake, Nadeem Hussian and Joanne Wilcox will continue to manage the existing direct property portfolio.
In the group’s A-REITs team, analyst Richard Fakhry has left the group, while analyst Paul Juniper will be leaving in March next year. Meanwhile, Danielle Carter, a portfolio manager within this team, will return from maternity leave in February to act as senior A-REIT portfolio manager. Nadeem Hussain from the direct property will also take an A-REIT analyst role.
The position of head of marketing, formerly held by Jean Luc Ambrosi, has also been made redundant, with the remaining five marketing staff now reporting to distribution head Damien Frawley.
The remaining six roles will be cut came from middle to back-office areas, Frawley said. All other investment management teams within Australia remain unaffected.
Recommended for you
Financial Services Minister, Stephen Jones, has assured the cost and time to enter the financial advice profession will soon be halved, as shadow treasurer Angus Taylor pledges to reach 30,000 advisers.
The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
