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Tuesday, February 12, 2013

BlackRock names Morgan Stanley banker Shedlin CFO, (NYSE: BLK), (NYSE: MS)

BlackRock Inc named Morgan Stanley banker and long-time financial advisor Gary Shedlin as its next chief financial officer, to succeed Ann Marie Petach.Shedlin, who has served as advisor to BlackRock on virtually all of its most significant deals, will join the investment company on March 11 and take over as CFO on completion of Petach's tenure after the company's first-quarter results.Most notably, Shedlin advised on BlackRock's 2009 purchase of Barclays' investment business to create the world's largest money manager.The former Barclays exchange-traded fund unit, iShares, has been a stellar performer and helped the New York-based firm please investors with expanding profit margins.

BlackRock, Inc. (BlackRock) is an independent investment management firm. Shares of BLK fell by 0.25% or $-0.59/share to $238.86. In the past year, the shares have traded as low as $160.25 and as high as $239.92. On average, 756123 shares of BLK exchange hands on a given day and today's volume is recorded at 1094867.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.5% or $0.35/share to $23.63. In the past year, the shares have traded as low as $12.26 and as high as $23.74. On average, 20406500 shares of MS exchange hands on a given day and today's volume is recorded at 15348848.



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