BlackRock Inc.’s Mark Wiseman, who is the global head of active equities, is leaving the firm following a violation of the company’s relationships at work policy.
The issue had no impact on any portfolios or client activities, BlackRock’s Chief Executive Officer Larry Fink and President Rob Kapito said in a memo to employees Thursday.
In a separate memo, Wiseman said that he failed to disclose a consensual relationship with a colleague.
“I regret my mistake and I accept responsibility,” he said.
“This is not who BlackRock is,” Fink and Kapito wrote. “This is not our culture. We expect every employee to uphold the highest standards of behavior. This is especially critical for our senior leaders.”
Wiseman joined BlackRock in 2016, after serving as chief executive of the Canada Pension Plan Investment Board. He was viewed as one of about seven contenders widely thought to be in the running to succeed Fink.
This is the second senior departure in a matter of months over company policy violations at BlackRock. Jeff Smith, the firm’s former global head of human resources, left BlackRock after failing to adhere to company policy, Fink and Kapito announced in a memo in July.