Thursday 5 December 2019 3:30 pm

Mark Wiseman to leave Blackrock after violating relationship policy

Mark Wiseman, Blackrock’s global head of active equities, is leaving the world’s largest asset manager after failing to disclose a relationship with a colleague.

In an internal memo, Wiseman said he had “engaged in a consensual relationship” with a Blackrock colleague in recent months without reporting it as required by company policy.

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“I regret my mistake and I accept responsibility for my actions,” said Wiseman.

In a separate internal memo, Blackrock chief executive Larry Fink and chairman Rob Kapito said Wiseman was leaving “following a violation of the company’s relationships at work policy”, and said the issue had no impact on any portfolios or client activities. 

“Our culture has always been one of Blackrock’s greatest strengths, and it is deeply disappointing that two senior executives have departed the firm in the same year because of their personal conduct,” the pair said.

Blackrock announced in July that its head of human resources, Jeff Smith, had left the firm after more than a decade because he had “failed to adhere to company policy”.

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“This is not who Blackrock is. This is not our culture,” said the memo announcing Wiseman’s departure.

 “We expect every employee to uphold the highest standards of behavior. This is especially critical for our senior leaders.”