Blackrock freezes hiring
Asset manager Blackrock has globally frozen hiring for a few weeks as the COVID-19 pandemic continues to develop, a source familiar with the situation said.
As reported by Reuters, a spokesperson said the firm had paused on making new offers.
“The source said plans made as recently as two weeks ago needed to be reviewed as Blackrock adjusts to a new way of doing business,” Reuters said
It said the hiring freeze underlined how painful the impact of the global selloff and COVID-19 would be for the real economy.
Currently, Blackrock had 16,200 employees in over 30 countries and had US$7.4 trillion ($12.8 trillion) in assets under management.
Recommended for you
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
Nuveen has appointed a global head of estate, a successor to Chris McGibbon who steps down after almost 25 years.
