Arun Sudhaman 04 Jul 2014 // 12:15PM GMT
LONDON—Asset management giant BlackRock has hired Tim Hoang to lead social media across Europe, the Middle East and Africa.
Hoang, who took on the role of EMEA social media VP last month, joins BlackRock from digital agency Razorfish, where he spent three years. Previously, he worked in digital PR roles at Cohn & Wolfe and Porter Novelli.
The hire would appear to confirm an expansion in BlackRock's social media capabilities. The company is also currently seeking a global social media director in New York or San Francisco, as part of an effort to better engage investors and build its brand via digital platforms.
The global position was previously held by Eileen Loustau, who departed BlackRock last year to become SVP and head of marketing at PENSCO Trust.
According to the FT, BlackRock is aiming to use Twitter, LinkedIn and YouTube to boost its European social networking reach.
The European fund management industry remains conservative in its use of social media; research from Cerulli Associates revealed that just 10 per cent of European asset managers saw social media as a key element of their marketing efforts, compared with almost 50 per cent in the US.