A new day will soon dawn for the legal department at BlackRock Inc. News broke yesterday that General Counsel Robert Connolly is retiring after 15 years at the money management firm.
BlackRock CEO Larry Fink first made the announcement internally on Jan. 24. In a memo, Fink wrote that Connolly was a “valued adviser to BlackRock, its board and our senior management team," and credited him with helping to build a global team with more than 250 lawyers and compliance officers.
Reuters reported that internal conflicts were a factor in Connolly’s retirement, according to sources familiar with the matter.
BlackRock also announced that Matthew Mallow was appointed interim general counsel in Connolly’s stead. Mallow, who joined BlackRock 18 ago, has worked with the firm’s asset manager for more than a decade. He also advised on BlackRock’s initial public offering in 1999 when he was a partner at Skadden, Arps, Slate, Meagher & Flom.
Fink’s memo also notes that Connolly will act as an adviser for Mallow during the transition.
Read the Wall Street Journal for more.