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BlackRock hires ex-Treasury official to spearhead Brexit response

The world's biggest asset manager has turned to another erstwhile Treasury official to spearhead its Brexit strategy just weeks after George Osborne, the former Chancellor, was appointed to its ranks.

Sky News has learnt that Antony Manchester, who had two spells in Whitehall - latterly as the Treasury's head of global competitiveness and EU financial services unit between 2009 and 2010 - is joining BlackRock (Sao Paolo: BLAK34.SA - news) in a senior public policy role.

Mr Manchester, who most recently worked for the Swiss Finance Council, will become a managing director at BlackRock, where his responsibilities will include "policy priorities, positioning and engagement regarding the impact of Brexit", according to an internal memo circulated on Friday.

His appointment comes as the City tries to interpret the Government white paper published this week, which pledged secure "the freest possible trade in financial services between the UK and EU member states".

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Mr Manchester's role will not focus exclusively on the impact of the UK's exit from the EU.

The BlackRock memo said he would also be responsible for shaping the firm's "definition and execution of our policy engagement on key UK public policy initiatives impacting clients, including pension and retirement savings, the Financial Advice Markets Review and infrastructure investing".

Mr Manchester's experience in public sector institutions will be useful to BlackRock once the two-year Article 50 process is triggered.

Between 2010 and 2014, he headed the Economic and Financial Department (ECOFIN) in Brussels, managing the British permanent representation there.

His arrival at BlackRock later this month will make him the latest figure with senior experience in the UK Government to join the firm.

Mr Osborne's appointment last month to work with the BlackRock Investment Institute - an internal thinktank and research arm for the firm's fund managers - sparked renewed criticism of the revolving door between Whitehall and the private sector.

Rupert Harrison, Mr Osborne's former top economic adviser, joined BlackRock in 2015.

A BlackRock spokeswoman confirmed the content of the memo but declined to comment further.