The head of BlackRock's institutional business team in Europe, Africa and the Middle East is to leave the firm after 10 years, in order to pursue other business interests outside the funds industry.

Mike O'Brien joined Barclays Global Investors in July 2000, and by 2003 was looking after BGI's most important strategic clients in the region. He took over as European chief after BlackRock's head of European institutional business, Andrew Dyson, was promoted and moved to San Francisco after the US fund manager acquired BGI last year.