Trump To Interview BlackRock CIO Rick Rieder For Federal Reserve Chairman Position
US President Donald Trump will interview Rick Rieder, BlackRock's chief investment officer of global fixed income, on January 15 as a potential Federal Reserve Chairman candidate. This marks the final interview in the selection process to replace Jerome Powell, whose term ends May 15. Rieder oversees $2.40 trillion in assets at BlackRock and brings extensive experience from his previous roles at Lehman Brothers and government advisory positions.
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US President Donald Trump is set to interview Rick Rieder, BlackRock's chief investment officer of global fixed income, as a potential candidate for Federal Reserve Chairman. The interview is scheduled for January 15 at the White House, according to sources who spoke to FOX Business. When asked about the potential meeting on CNBC, Rieder neither confirmed nor denied the interview, stating that the press stories "seem reasonably accurate."
This interview represents the fourth and final candidate meeting in Trump's selection process to replace Federal Reserve Chairman Jerome Powell, whose term as chairman concludes on May 15.
Rick Rieder's Role at BlackRock
Rick Rieder holds multiple senior positions at BlackRock, serving as Senior Managing Director, Chief Investment Officer of Global Fixed Income, head of the Fundamental Fixed Income business, and head of the Global Allocation Investment Team. His responsibilities encompass overseeing approximately $2.40 trillion in assets under management.
| Position | Details |
|---|---|
| Assets Under Management | $2.40 trillion |
| Primary Role | Chief Investment Officer of Global Fixed Income |
| Committee Memberships | Global Executive Committee, GEC Investment Sub-Committee |
| Leadership Position | Chairman of BlackRock Investment Council |
| External Advisory Roles | Alphabet/Google Investment Advisory Committee, UBS Research Advisory Board |
Rieder sits on BlackRock's Global Executive Committee and its GEC Investment Sub-Committee, while also serving as Chairman of the firm-wide BlackRock Investment Council. Beyond BlackRock, he holds advisory positions on the Alphabet/Google Investment Advisory Committee and the UBS Research Advisory Board.
Professional Background
Before joining BlackRock in 2009, Rieder served as President and CEO of R3 Capital Partners. His most significant tenure was at Lehman Brothers from 1987 to 2008, where he held several key leadership positions including leading the Global Principal Strategies team and serving as global head of credit businesses.
| Career Timeline | Position | Organization |
|---|---|---|
| 1987-2008 | Global Head of Credit Businesses | Lehman Brothers |
| 2008-2009 | President and CEO | R3 Capital Partners |
| 2009-Present | Senior Managing Director | BlackRock |
During his time at Lehman Brothers, Rieder chaired the Corporate Bond and Loan Capital Commitment Committee and sat on the Board of Trustees for the corporate pension fund. Prior to Lehman Brothers, he worked as a credit analyst at SunTrust Banks in Atlanta.
Government and Policy Experience
Rieder has contributed to US financial policy through various government roles. He served as Vice Chairman and member of the Borrowing Committee for the US Treasury and as a member of the Federal Reserve's Investment Advisory Committee on Financial Markets. This experience provides him with direct exposure to federal monetary policy and central banking operations.
Education and Community Involvement
Rieder earned a BBA in Finance from Emory University in 1983 and an MBA from The Wharton School, University of Pennsylvania in 1987. He maintains strong ties to his alma mater, serving on the board of Emory University, its Goizueta Business School, and the University's Finance Committee, where he holds the position of Vice Chairman of the Investment Committee.
His philanthropic activities include founding and chairing Goizueta Business School's BBA investment fund and the community financial literacy programme, Graduation Generation. Rieder serves as Chairman and President of the Board of Education for North Star Academy's 14 charter schools in Newark, New Jersey, and holds board positions with the BlackRock Foundation, the Hospital for Special Surgery Board of Advisors, and Big Brothers/Big Sisters of Newark and Essex County.
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