A BlackRock memo about Aladdin architect Jody Kochansky's departure lays out how he shaped the giant asset manager over nearly three decades at the firm
- After nearly three decades at BlackRock, Jody Kochansky left the firm last week, according to a post on his LinkedIn page.
- Kochansky most recently was the chairman of the Aladdin product group, and ran the day-to-day operations of the 1,300-person team from 2014 to the end of 2018. He was replaced by Lance Braunstein, E*Trade's former chief information officer, who stepped into the role in April.
- "I'm proud to have helped transform BlackRock from an unknown boutique New York fixed-income manager to a tech-powered global solutions provider with nearly $7 trillion under management," Kochansky said in a LinkedIn post.
- A memo written by BlackRock Chief Operating Officer Rob Goldstein praised Kochansky's creativity, noting that his style "will guide the firm's technology culture for years to come."
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The growth of BlackRock into the asset management and analytical technology giant it is today can be traced through the career arc of Jody Kochansky.
Starting at Larry Fink's asset manager in 1992 building bond analytics and a risk-reporting platform, Kochansky worked as a fixed-income portfolio manager, led the construction of the Aladdin platform - the risk management and analytics platform used by BlackRock and thousands of the firm's clients - and was in charge of equity trading, portfolio analytics, and, finally, the Aladdin product group.
He had moved out of his role leading 1,300 engineers and technologists in the Aladdin product group into a chairman role with no direct reports at the end of 2018.
Friday, Kochansky said on LinkedIn, was his last at the world's largest asset manager. A Nov. 1 memo on his departure provided to Business Insider by BlackRock said that Kochansky had decided to leave the firm to "pursue personal interests and other professional opportunities."
The memo, written by BlackRock Chief Operating Officer Rob Goldstein, praised Kochansky's creativity, noting that his style "will guide the firm's technology culture for years to come."
"Building on a strong foundation and Jody's leadership, the Aladdin Product Group is well-positioned to deliver against our strategic priorities under the leadership of Lance Braunstein," the memo said, noting BlackRock had announced Braunstein as head of the Aladdin product group in March.
Braunstein, E*Trade's former chief information officer, took over Kochansky's role as head of the product group in April of this year, after stints at Morgan Stanley and Goldman Sachs. The business side of the Aladdin platform is run by Sudhir Nair, who has been at BlackRock since 2000.
"Please join me in thanking Jody for his commitment and contributions to our firm and wishing him well in this next chapter," Goldstein wrote.
Kochansky's LinkedIn post did not mention any future plans, and he could not be reached for comment.
"I'm proud to have helped transform BlackRock from an unknown boutique New York fixed-income manager to a tech-powered global solutions provider with nearly $7 trillion under management. From managing client portfolios to running US equity trading to heading the Aladdin Product Group, I have led with my heart and tried to build a culture of innovation and intellectual curiosity," Kochansky wrote on LinkedIn, listing out his roles, including "overall MacGyver impersonator" and "Lehman liquidator."
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