BlackRock executive Charles Hallac, dies at 50

The BlackRock logo is seen outside of its offices in New York BlackRock Inc (BLK.N) co-president and long-time executive Charles Hallac has died after a years-long struggle with colon cancer at the age of 50, the company said on Wednesday.

Hallac, who was the first employee to join BlackRock in 1988, was formerly chief operating officer and the initial architect for the firm’s Aladdin risk management system, which now has 20,000 users with around $15 trillion in assets tied to it, according to the firm. He also founded the firm’s BlackRock Solutions service, which provides Aladdin and other advisory services to financial institutions.