BlackRock has shaken up its fixed income team as part of efforts to give it a 'global' perspective, as well as rejigging its active equities and multi-asset operations under a broader restructure. As part of this the fixed income team will take a global focus, with head of international fixed income Tim Webb becoming global head of fixed income and Rick Rieder, currently chief investment officer (CIO) of fundamental fixed income, assuming the title of CIO of global fixed income. Under the changes, which take effect at the start of February 2016, both men will report to BlackRock president Rob Kapito. Meanwhile Ewen Cameron Watt, who as chief investment strategist played a key role in establishing the BlackRock Investment Institute, will step back from full-time involvement on July 1 and will now serve as a senior director at the institute. BlackRock is also looking to further promote its multi-asset business, which it has identified as one of the firm's leading opportunities for growth. As part of changes to the business Rich Kushel will take on the role of head of multi-asset strategies while Pierre Sarrau, deputy CIO of multi-asset strategies, will be promoted to CIO.

The company will also combine its fundamental active equity and scientific active equity groups into one business.