BlackRock (NYSE:BLK) has announced the appointment of Gary Shedlin as its new CFO. The company said Shedlin is a "longtime strategic and financial advisor to BlackRock." He had been working at Morgan Stanley (NYSE:MS), where he was the vice chairman of investment banking and a managing director in its financial institutions group. He is to begin at BlackRock on March 11.

Shedlin replaces Ann Marie Petach, who is moving on to become senior managing director in the company's client solutions unit. The two will collaborate until Petach formally relinquishes the CFO post following the reporting of Q1 results.