Effective 1 March, Joseph Pacini took the role of head of BlackRock Alternative Investors Strategy Group, Asia-Pacific ex-Japan. Pacini joined the firm from JP Morgan Private Bank (Asia) where he was head of alternative investments. At his new position with BlackRock, he will be responsible for driving the alternatives business in the region while working closely with the Global BAI Strategy Group.

The firm believes that diversifying into alternative assets brings in great potential to generate above average returns and manage risk, since alternatives tend to not move in tandem with stocks and bonds. Globally, BlackRock manages around $105 billion in alternative assets as of 31 December 2011, including hedge funds, private equity and real estate.