BlackRock Inc. has promoted Mark Wiedman to head the company's international operations and corporate strategy, The Wall Street Journal reported, citing a company memo.
Wiedman was previously in charge of the company's exchange-traded funds and index fund business. In his new position, Wiedman will report directly to CEO Laurence Fink and will share some responsibilities with Fink, the publication added.
Wiedman's promotion, according to WSJ, signals that he is being primed to be a possible successor to Fink.
Unnamed sources told the publication that other possible CEO successors include President Rob Kapito, active-equities head Mark Wiseman, COO Rob Goldstein, Americas head Mark McCombe and fixed income chief Rich Kushel.
Wiedman's most recent role as head of iShares exchange-traded fund business as well as its index investments has been handed to Salim Ramji, who was previously in charge of BlackRock's U.S. wealth advisory business. In addition, Martin Small, who was previously in charge of the company's U.S. and Canada iShares business, will lead the U.S. wealth advisory business, according to the report.