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BlackRock exec Mark Wiseman ousted over affair with employee

Investing giant BlackRock has terminated one of its top executives after it was revealed that he had been having a consensual affair with an employee.

Senior managing director Mark Wiseman — who had been seen as a potential successor to Larry Fink, the founder of the $6.8 trillion fund — was fired after the firm ruled the affair violated its policies, according to the Wall Street Journal.

Making the drama even messier is the fact that Wiseman’s wife, Marcia Moffat, is the head of BlackRock’s Canadian division.

The company logo above the entrance to the headquarters of the investment management corporation BlackRock on Park Avenue in Midtown Manhattan in New York, USA, 13 October 2015. BlackRock manages around 4.7 billion dollars. Photo: HANNES BREUSTEDT/dpa | usage worldwide (Photo by Hannes Breustedt/picture alliance via Getty Images)
picture alliance via Getty Image

Indeed, some had believed that Wiseman’s chances of eventually leading BlackRock were boosted by his power couple status with Moffat, who BlackRock insiders say is well-liked by Fink.

Moffat was hired by BlackRock in 2015, one year before Wiseman, who joined the fund after almost four years as CEO of the Canada Pension Plan Investment Board, the nation’s $400 billion sovereign wealth fund.

BlackRock’s poaching of Wiseman was seen as something of a coup at the time, but his focus on long-term investment strategies and private equity at BlackRock has been out of sync with market realities.

“This is just super embarrassing for everyone over there,” one person with knowledge of BlackRock goings-on told The Post. “And it’s not like Wiseman has been killing it.”

The Wiseman-Moffat marriage was a cute subplot for BlackRock, a company not often thought of for its sweet side.

In an interview last year, Wiseman accidentally gave a reporter his wife’s business card, an error he said was caused by selecting incorrectly from the pile of mingled BlackRock business cards on the couple’s bedside table.

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