BlackRock’s head of U.S. defined contribution business, Kristi Mitchem, is quitting, Pensions & Investments reports. She will be replaced by the head of BlackRock’s U.S. operations, Frank Porcelli, and the head of its U.S. institutional business, Robert Capaldi, on an interim basis.

Mitchem joined BlackRock as managing director and head of Barclays Global Investors’ (BGI) U.S. defined contribution business. She was promoted to lead the combined unit, after BlackRock acquired BGI in 2009.

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