Married BlackRock executive fired for not disclosing office romance
Mark Wiseman was a possible successor BlackRock CEO Larry Fink
Peloton stock is overpriced: Investor
Strategic Wealth Partners’ Mark Tepper discusses the controversial Peloton commercial, the exercise bike’s stock and consumer strength following Cyber Monday sales.
A top executive at BlackRock, one of the world's largest asset managers, was fired after engaging in a secret relationship with a colleague, the money management firm confirmed to FOX Business on Thursday.
Mark Wiseman, who said he regretted his actions in a memo on Thursday, was a possible successor to BlackRock CEO Laurence Fink.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 1,036.73 | +8.59 | +0.84% |
"I engaged in a consensual relationship with one of our colleagues without reporting it," Wiseman wrote. "I regret my mistake and I accept responsibility for my actions."
Wiseman is married to Marcia Moffat, who is also an executive at BlackRock.
"We expect every employee to uphold the highest standards of behavior," Fink and BlackRock President Rob Kapito wrote in a separate memo. "When the firm becomes aware of a breach of policy or conduct that is not in line with our values, we move quickly and decisively to address it."
Mark Wiseman, Global Head of Active Equities and Chairman of BlackRock Alternative Investors at BlackRock LLC. (REUTERS/Mike Segar)
CLICK HERE TO READ MORE ON FOX BUSINESS
Wiseman led a roughly $300 billion active equities business for BlackRock among other responsibilities, according to The Wall Street Journal.
BlackRock hired Wiseman in 2016 from the Canada Pension Plan Investment Board.