Andrew Landman is set to join BlackRock in the newly-created position of head of the company's Australian alternatives business.
Landman will join the group from BT Financial Group (BTFG), where he oversees Ascalon Capital's $4.2 billion in assets under management as chief executive. He is also head of BTFG's investment strategy.
As to when Landman will start with BlackRock, a BlackRock spokesperson told InvestorDaily those details were "still to be determined".
Commenting on Landman's departure, a BTFG spokesperson said: "Over the coming months, Andrew will continue to work with us to see through some of Ascalon's major deliverables and will continue to lead the team until we appoint a new CEO for the business."
BlackRock head of alternatives business in Asia, excluding Japan, Joseph Pacini, will lead the Australian alternatives business until Landman joins the firm.
BlackRock Alternative Investors head of hedge funds Rick Arney said Landman's hire "reflects our desire to expand on our position in Australia".
"Demand from our clients for alternative investments is increasing as they seek to capture opportunities that maximise returns," Arney said.
As at 31 March, BlackRock managed around US$110 billion in alternative assets globally, of which US$20 billion came from the Asia-Pacific region.
