BlackRock's head of retail for Emea Alex Hoctor-Duncan is to depart the firm after more than 20 years.
Mr Hoctor-Duncan is set to take a break before exploring future career opportunities, BlackRock said, and would be replaced by Emea co-head of ETF sales Michael Gruener.
The former head of sales became part of BlackRock in 2006, coming across as the firm bought Merrill Lynch Investment Management (MLIM). However, his service with MLIM and previous brand Mercury Asset Management dates back to 1997.
He became head of retail in Emea for BlackRock in 2012 having previously been head of retail sales. He also represented the firm on the board of the Investment Association.
Mr Gruener will take over the role immediately and on a full time basis. He will be responsible for further developing BlackRock's retail business, working alongside Mr Hoctor-Duncan until later this year. The role also includes aspects of Tony Stenning's former position as head of retirement. Mr Stenning called time on his 17-year career towards the end of last year, with Mr Hoctor-Duncan taking on his responsibilities.
David Blumer, BlackRock's head of Emea, said: "Alex has demonstrated incredible dedication to BlackRock and his colleagues over the past two decades. [He] drove the five-year plan to diversify our retail business through alternatives, multi-asset and fixed income alongside our ongoing success in equities."
BlackRock said a replacement for Mr Gruener as co-head of ETF sales would be announced in due course.
