BlackRock has hired Rimmo Jolly from Citi to serve as its new head of iShares Asia Pacific.

Jolly will be tasked with boosting iShares’ ETF market share and adoption in the region once he assumes the new responsibility on 4 May 2020.

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He will work alongside colleagues to roll out local product offerings.

He will operate out of Hong Kong, reporting to head of iShares and index investing Asia Pacific Susan Chan.

“With ongoing education and outreach to the industry, regulators, and our clients on ETF application, iShares is well positioned to capture the tremendous growth potential in Asia Pacific with the broadest line-up of products in the ETF industry,” Jolly noted.

Jolly has held various roles at Citi, currently as its regional head of ETF and index sales and business development for Asia Pacific.

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At Citi, he formerly held a senior role in Hong Kong and San Francisco.

He also had a stint at Deutsche Bank’s equity structured products group.

Chan said: “The recent extreme risk-off market environment has showcased the underlying strength of ETFs.

“I look forward to working with Rimmo to bring our suite of global and local products to investors in the region, and to raise awareness of using iShares ETFs as an instrument of active investment management.”