BlackRock Inc. today named Russ Koesterich as its chief investment strategist. He will be in charge of communicating the firm's investment strategy and perspective on the markets and economy to investors and financial advisors.
Koesterich will report to Ken Kroner, BlackRock's global head of multi-asset strategies. Koesterich will continue to serve as global investment strategist for BlackRock's iShares business, a position he's held since 2010. His tenure with BlackRock dates to 2005, and includes his years with Barclays Global Investors (BGI), which BlackRock acquired in 2009.
At BGI, Koesterich was the global head of investment strategy for active equities and a senior portfolio manager in the U.S. Market Neutral Group. Prior to joining BGI, he was chief North American strategist for State Street Bank. Koesterich began his career at Instinet, where he held several research positions.
Koesterich is the author of two books, including his most recent The Ten Trillion Dollar Gamble, that recommends how to position portfolios for the impact of the growing U.S. deficit.
"The financial world is more uncertain than it's ever been and a succession of seismic events has left investors unsure of what to do next," Koesterich said in a statement. "We believe that opportunities do exist for investors, and I look forward to working with my colleagues across the globe, including in the BlackRock Investment Institute, to provide investors with answers for this new world of investing."
BlackRock is a provider of investment management, risk management and advisory services for institutional and retail clients worldwide. It had $3.673 trillion assets under management as of Sept. 30.