(Bloomberg) -- BlackRock Inc., the world’s biggest asset manager, hired its long-time strategic and financial adviser Gary Shedlin as chief financial officer to replace Ann Marie Petach, who will move to a client-oriented role within the firm.

Petach will be a senior managing director at BlackRock Solutions, New York-based BlackRock said yesterday in a statement. Shedlin, 49, a former vice chairman of investment banking at Morgan Stanley, will join the firm in March and become CFO after it reports its first-quarter earnings in April.

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