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On October 17, 2016, the BlackRock logo is seen outside of its offices in New York City, United States. Brendan McDermid/Reuters (Reuters) – BOSTON, July 8 (Reuters) – Ray Cameron, a key member of BlackRock Inc’s (BLK.N) investment stewardship team who handled the money management’s dealings with hundreds of U.S. corporations, will move on to another role within the company, according to the asset manager. Cameron will join BlackRock’s institutional client unit, where he will work with pension funds, sovereign wealth funds, and corporate clients, according to two persons familiar with the situation. Other than that, BlackRock has been silent on the subject. Cameron joined BlackRock three years ago as head of investment stewardship for the Americas, giving him a major voice in governance because BlackRock is often one of the largest shareholders in most corporations. Cameron will take over as CEO at the conclusion of the third quarter, when the annual proxy voting season will have come to a close. The move comes almost a year after BlackRock hired Sandy Boss, a former McKinsey & Co partner, to lead its global investment stewardship operations. Boss is situated in London and reports to Larry Fink, the CEO of BlackRock. Cameron is a New York-based filmmaker. With $9 trillion in assets under management, BlackRock has grown in importance in influencing business behavior, and it has recently suggested that it will take a much stronger stance on climate and environmental concerns. find out more Every year, BlackRock, Vanguard Group, and State Street Group vote on important corporate issues such as lobbying disclosures and a company’s stance on climate change, and they can influence who sits on a company’s board of directors. Cameron came to BlackRock from Stifel Financial Corp (SF.N), where he was head of corporate access. He took over for Zach Oleksiuk, who went to work for investment bank Evercore, where he advises firms on how to interact with investors, especially activist hedge funds. Svea Herbst-Bayliss contributed reporting, and Leslie Adler edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More

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