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BlackRock Canada's Marcia Moffat to Depart in 2026
ByAinvest
Thursday, Aug 7, 2025 10:33 am ET1min read
Marcia Moffat, head of BlackRock Canada, will leave the firm in 2026. She joined in 2015 and will remain a senior adviser during the transition. Under Moffat's leadership, BlackRock launched an alliance with Royal Bank of Canada and became Canada's top provider of exchange-traded funds. She also helped make BlackRock Canada's largest manager of pension assets. Moffat was previously a board member with Manulife Bank and head of home equity financing with RBC.
Marcia Moffat, the head of BlackRock Inc.’s Canadian unit, will leave the firm in 2026, according to an internal memo seen by Bloomberg News [1]. Moffat, who joined the asset manager in 2015, is stepping down as country head but will remain a senior adviser to assist with the transition. A BlackRock spokesperson declined to comment.Under Moffat’s leadership, BlackRock launched an alliance with Royal Bank of Canada (RBC) called RBC iShares in 2019. This alliance has positioned BlackRock as Canada’s top provider of exchange-traded funds (ETFs), with a 27% market share as of July 31, 2025 [1]. Moffat also played a pivotal role in making BlackRock Canada the largest manager of pension assets in the country.
Moffat’s background includes serving as a board member with Manulife Bank of Canada and heading home equity financing with RBC. Her extensive experience in the financial sector has been instrumental in BlackRock Canada’s growth and success [1].
In April 2025, BlackRock’s head of iShares in Canada left the firm as part of a broader restructuring. This move follows a trend of leadership changes and strategic shifts within the company, which has seen significant growth and expansion over the years [1].
BlackRock, founded in 1988, is the world's largest asset manager, with US$11.5 trillion in assets under management as of 2024 [2]. The company has 70 offices in 30 countries and clients in 100 countries [2]. BlackRock is known for its Aladdin software, which tracks investment portfolios for many major financial institutions, and its BlackRock Solutions division, which provides financial risk management services.
The departure of Moffat signals a new chapter for BlackRock Canada. The company will need to appoint a successor who can build on Moffat’s achievements and continue to drive growth and innovation in the Canadian market.
References:
[1] https://www.bloomberg.com/news/articles/2025-08-07/blackrock-canada-head-marcia-moffat-to-leave-firm-in-2026
[2] https://en.wikipedia.org/wiki/BlackRock
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