US investment firm BlackRock names a new Asia-Pacific head.

BlackRock, the US investment firm, has named a new head for its Asia-Pacific business as part of an East-West switch of two of its most senior executives.

Effective 1 June, Ryan Stork will transfer to Hong Kong from New York to assume his new post. He has served a variety of leadership roles at the firm in the past 13 years. At the end of 2014, Stork is also due to assume the chairman role.

Also newly appointed is Mark McCombe as global head of institutional client business and chairman of BlackRock Alternative Investors in Ne York. He is currently the Asia-Pacific chairman and will continue to be so until Stork takes over, to facilitate a smooth transition. 

BlackRock specialises in investment management, risk management and advisory services for institutional and retail clients worldwide. As at 31 December 2013, the firm recorded $4.324 trillion in assets under management.

The appointments were announced just shortly after Choi Man-Yeon joined the Korea office as country head, to replace Sung Nak Yang, and Helen Zhu stepped in managing director and head of China equities.