OAN Staff Blake Wolf
12:00 PM – Monday, September 16, 2024
Mike Pyle, the former economic advisor to President Joe Biden, will be returning to the controversial multi-trillion dollar investment company BlackRock.
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Pyle will return as deputy head of its Portfolio Management Group, according to Reuters.
Pyle, who has been informally counseling Harris’s presidential campaign regarding its economic proposals, will now return to the investment firm, strengthening the close ties between BlackRock and Washington, D.C.
Pyle has also been working for the Biden administration, serving as the deputy national security advisor on international economics and as a negotiator at the G7, G20, and APEC summits. However, Pyle’s role ended in February, prompting the return.
“As we navigate this environment and focus on the tremendous opportunity ahead, Mike brings an unparalleled combination of market, economic and geopolitical experience,” stated Rich Kushel, head of BlackRock’s portfolio management group.
The firm, led by Larry Fink, has become an open door for policymakers looking for careers outside of politics, growing BlackRock’s influence on policy, which has drawn criticism from Republican lawmakers for the firm’s influence on environmental and social investing.
Pyle began managing portfolios for BlackRock’s global tactical asset allocation team between 2014 to 2021, prior to leaving to serve in the Biden administration.
Before managing assets with BlackRock, Pyle served within President Barack Obama’s administration as he worked on international and domestic economic policy for the White House, as well as the U.S. Treasury Department.
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