BlackRock names new corporate affairs chief

By Ross Kerber

(Reuters) – Top asset manager BlackRock (NYSE:) on Thursday named outside executive John Kelly to a newly created role overseeing its public policy, philanthropy, communications and branding, at a time the firm needs to balance its message among competing constituencies.

Kelly’s appointment as global head of corporate affairs, described in a memo provided by a spokesman, caps a transition period for BlackRock’s staff in key areas after the departure of executives including Dalia Blass, its onetime external affairs director who left for a law firm in April.

In addition, BlackRock’s global head of corporate communications, Jim Badenhausen, gave notice in January of his plan to step down in 2024, according to the memo sent to staff by BlackRock CEO Larry Fink.

The changes come at a time when BlackRock is doing well financially but faces political pressure over its investment policies such as its treatment of fossil fuel companies in its portfolios. BlackRock has taken steps in response, such as adding lobbyists, and also launched a cable television ad campaign.

Kelly, who will report to Fink, has had senior jobs at Starbucks (NASDAQ:) and Microsoft (NASDAQ:) and most recently was senior vice president for brand, communications and corporate affairs at streaming platform Roku (NASDAQ:).