Rick Rieder, who has been head of corporate credit at BlackRock, has taken on responsibility for the multi-sector and mortgage group at the company in his promotion to chief investment officer.
He replaces Curtis Arledge, CIO since the first quarter of 2010 and a former Wachovia fixed income executive. Arledge has accepted a position as CEO of BNY Mellon Asset Management.
Rieder will report to BlackRock's head of fixed income Peter Fisher, a former Treasury under secretary who joined the firm in 2004.
Rieder joined BlackRock in early 2009 and in addition to head of credit he has served as deputy CIO of fixed income, fundamental portfolios. Previous to BlackRock he spent over 20 years at Lehman Brothers where he led a variety of fixed income businesses.
