Deals & People September 6, 2011

BlackRock Appoints Senior Portfolio Manager for U.S. Fiduciary Business

BlackRock, Inc. announced Mark Taborsky will join the company as a Managing Director and Senior Portfolio Manager within its Multi-Asset Client Solutions (BMACS) group.
Reported by

Specifically, Taborsky will have direct oversight of client assets within the U.S. Fiduciary Management Solutions (FMS) business of BMACS. In this newly created position, he will be responsible for developing, assembling, and managing investment solutions involving multiple strategies and asset classes for U.S.-based fiduciary clients.   

He will also help develop and build out FMS’ investment capabilities across all client segments including endowments, foundations, pension plans, sovereign wealth funds, and high net worth and retail clients. Taborsky will report to Nancy Everett, Managing Director and Head of U.S. FMS.   

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Taborsky most recently served as Executive Vice President at PIMCO, where he was responsible for asset allocation strategies and European solutions efforts. Before joining PIMCO, he was Managing Director of the external management group at Harvard Management Company in Boston, where he managed the majority of Harvard’s external manager relationships across asset classes.   

Taborsky holds a Bachelor of Commerce degree from McGill University and an MBA in Finance and Policy from the University of Chicago Booth School of Business.  

BlackRock’s U.S. FMS business provides investment management, advisory solutions and outsourcing to institutional clients, including U.S. pension plans, endowments and foundations. Fiduciary outsourcing mandates, in which a client retains BlackRock to assume responsibility for some or all of their assets, are managed by FMS. At June 30, 2011, BMACS, led by Michael Huebsch, managed $126 billion in assets including $50 billion in fiduciary assignments globally.
Deals & People September 6, 2011

Russell Investments Creates New Position For Retirement Income

Russell Investments has appointed Jeff Eng to the newly created position of Director, Retirement Income, for the firm’s Americas Institutional business.
Reported by

Based in New York, Eng will oversee solutions for institutional defined contribution (DC) plan sponsors. Eng reports to Richard Davies, Managing Director, Defined Contribution, Americas Institutional (see “Russell Appoints Head of DC Business“).

In conjunction with Russell’s team of DC consultants and investment management experts, Eng will work with DC plan sponsors to help them incorporate distribution strategies into target-date fund (TDF) solutions and to manage operational and compliance-related implementation challenges. This includes working with institutional clients on custom TDF solutions. He will be an active contributor to Russell’s retirement income-focused research—developed for the firm’s institutional and adviser clients—on the efficacy of various annuitization and managed distribution approaches.

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Most recently, Eng worked at AllianceBernstein, where he served as Vice President and Product Director of Defined Contribution Investments. Prior to that role, he was a Principal Consultant at Context Integration and a Project Manager and Business Analyst supporting J.P. Morgan’s credit derivatives trading desk. He has experience with annuity product design; insurer investment preferences and risk management practices; and a strong background in navigating the operational issues and legal/regulatory requirements for in-plan guarantees.

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