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MOVES-BlackRock's Charrington steps down as EMEA exec chairman - memo

Reuters - UK Focus

LONDON, March 3 (Reuters) - BlackRock Inc (NYSE: BLK - news) 's James Charrington stepped down as executive chairman in Europe, Middle East and Africa this week after more than two decades at the world's biggest money manager, according to an internal memo seen by Reuters.

Charrington, who held the position since July 2010, has become non-executive chairman of the business and also remains chairman of the board of BlackRock Group Ltd, the memo sent to staff by BlackRock's chairman Larry Fink showed.

A BlackRock spokesman confirmed the contents of the memo.

The firm, which manages $4.65 trillion in assets globally, is not replacing Charrington. It had hired David Blumer as chief executive for the business two years ago and appointed Patrick Olson as chief operating officer last year. (Reporting by Nishant Kumar; Editing by Steve Slater)