BlackRock Inc. (BLK), the world’s biggest asset manager, rehired Joshua Levine from Legg Mason Inc.’s Permal Group hedge-fund unit to become co-head of pensions.
Levine, a director of BlackRock’s Latin American institutional business before he left in late 2007 to join Permal, will be a member of the U.S. and Canada institutional team within BlackRock’s Global Client Group, said Brian Beades, a spokesman for the New York-based firm. He will report to Edwin Conway.
Levine will lead the group with Al Goduti and be responsible for developing and maintaining relationships with institutional investors, specifically public and corporate pension plans on the East Coast and in the Midwest, Beades said.
BlackRock manages $3.5 trillion in assets, about 62 percent of which is for institutional clients, including pensions.
The hiring of Levine was reported earlier today by Dow Jones.
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