In this newly-created role, Koesterich will focus on conveying the firm’s investment strategy and conveying BlackRock’s perspective on the markets to investors as well as financial advisers.
In this position, he will report to Ken Kroner, who is BlackRock’s global head of multi-asset strategies.
Robert Kapito, president at BlackRock said: ‘In this new role, Russ will focus on communicating the best thinking to investors from throughout BlackRock, drawing on the full range of BlackRock’s capabilities across geographies, investment strategies and asset classes.’
Koesterich will also continue in his role as global investment strategist for the firm’s iShares exchange traded fund (ETF) business, a role he has occupied since 2010.
He started at BlackRock in 2005, having spent a few years at Barclays Global Investors (BGI) prior to its acquisition by the asset manager.
At BGI, he was global head of investment strategy for active equities as well as a senior portfolio manager in the US Market Neutral Group.
Prior to this, he was chief North American strategist for State Street Bank.