Charles Hallac, BlackRock Co-President and founding member of the fund, has died aged 50 after a long battle with cancer
The 27-year company veteran joined the firm in 1988 and was one of its first employees.
Mr Hallac helped in building the firm’s technological and operational foundations. He was the initial architect of a risk management system called Aladdin, which now has 20,000 users with around $15 trillion in assets tied to it.
“Charlie was not only my partner for many years, but also a trusted and valued friend. He was truly the heart and soul of BlackRock. His extraordinary innovations, including our unique Aladdin platform, have been central to our success,” said Laurence D. Fink, Chairman and CEO of BlackRock.
Today we lost a great leader. Charlie Hallac passed away after a courageous battle with cancer http://t.co/q5dMSeTxBk pic.twitter.com/6vbsH8AsNy
— BlackRock® (@blackrock) September 9, 2015
Described as a visionary, Mr Hallac purchased the company’s first computer sever. He put it between the coffee machine and refrigerator in the firm’s one-room office during BlackRock’s early days.
He is also credited with building a team of nearly 2,000 programmers, modellers and risk and data analysts to support Aladdin. The system serves as a powerful unifying force and common language for the firm’s more than 12,000 employees and continues to propel BlackRock’s growth.
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Despite battling with cancer for nearly four years, Mr Hallac was made co-president last year. He served as chief operating officer since 2009. Colleagues said he was in the office every day even when undergoing chemotherapy.
“Charlie never lost that passion, and even as he battled cancer he continued his life’s work, never complaining and constantly inspiring,” Mr. Fink said.
Hallac is survived by his wife Sarah and three children, David, Rebecca and AJ.
