BlackRock, Inc. has appointed Patrick M. Liedtke to lead its Financial Institutions Group (‘FIG’) in Europe, the Middle East and Africa (‘EMEA’). Based in London, he will be responsible for leading and executing current strategy, developing investment solutions for insurers, and managing client relationships. Mr. Liedtke will be a member of the global FIG leadership group and serve as a member of the EMEA Institutional Executive Committee. He will report to David Lomas, the Global Head of FIG.
Mr. Liedtke starts on October 1st, bringing a wide international network of contacts in the insurance and finance world. He joins from The Geneva Association, which he built as Secretary General and Managing Director during the past 12 years into the leading international think-tank and global voice of the insurance industry. Through his leadership here, he influenced the global strategic and regulatory development of insurance and risk management, closely working with the industry's leaders as well as senior financial regulators.
Over his 20-year career, he has founded and led several international financial, economic and academic networks in business as well as academia. He is the founder of the Chief Investment Officers Network, the Financial Directors Network, the Amsterdam Circle of Chief Economists, and co-founder of the Chief Risk Officers Network in insurance and the World Risk and Insurance Economics Congress. Mr. Liedtke has also held several board positions and is actively involved in many international organizations and risk and insurance journals. He has authored and edited several books and over 150 articles and papers on insurance, finance and economics.
David Lomas, Global Head of FIG at BlackRock, said, “Patrick is the ideal person to lead the FIG team in the EMEA region. The combination of a low yield environment, margin compression, and regulatory changes resulting from Solvency II is causing European and global insurers to re-evaluate their operating models, and Patrick’s knowledge and experience will be extremely beneficial for our clients.”
Mr. Liedtke said, “BlackRock has a strong reputation for investment expertise and effective risk management in the insurance sector and is uniquely positioned to help firms cope with the challenges of a rapidly changing economic and regulatory environment. I am looking forward to working closely with our clients to understand their needs and provide solutions that draw on the full spectrum of BlackRock’s capabilities.”
BlackRock’s FIG business is dedicated to servicing the asset and risk management needs of insurance firms, and provides solutions tailored to their specific economic circumstances, the regulatory framework they operate in, and their accounting balance sheets. The group manages $301 billion in unaffiliated general account and sub-advisory assets for 144 insurers in 22 countries, as at the end of June 2012.
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