Circling Back With Jennifer McGovern - a BlackRock 'Boomerang'

Can you tell us about your career journey? 

I started as a Program Analyst in a predecessor team to US Wealth Advisory (USWA), working on mutual fund and closed-end fund product development. After five years, I wanted to go to grad school and decided to go to Brooklyn Law School. It felt like the right time, and I didn’t want to miss out on the opportunity. 

While I was in law school, I didn’t think I would go back to financial services and had no expectation of returning to BlackRock. I was working in-house at a small firm for about six months when I realized it wasn’t a good fit for me. Having ‘grown up’ at BlackRock, I was used to a high level of engagement and a lot going on. Even in a junior role, I felt like I was having an impact. Coming out of law school, it was strange not only to be at a much smaller firm, but also to feel more isolated from the business day-to-day. I missed the “flatness” of BlackRock’s organizational structure and the networks I had developed. 

I was still in touch with people at BlackRock and it was clear from them that a lot of change was happening. I’d left BlackRock in 2004 and since then the Merrill Lynch Investment Management (MLIM) merger had happened, and BlackRock’s Wealth business was transformed, with a growing team and new opportunities. And many of the same people I’d worked with previously were still at the firm. 

The growth of BlackRock’s Wealth business and expansion of the product line provided a great opportunity for me to return to the firm and combine my previous knowledge of product development with my new legal training. 

When I returned, I focused on USWA’s product structuring and development, which included working closely with the mutual fund boards. After a few years, we combined my team with other product teams that had been in the Institutional Client Business and BlackRock Alternative Investors to form the Americas Product Development function within GPG. 

Who has influenced you most during your time at BlackRock? 

I’ve had the opportunity to work with many inspiring and talented senior leaders during my time at BlackRock. Barbara Novick (co-founder of BlackRock and current Senior Advisor) was one of the very first people I met at the firm. She actually interviewed me on campus and became a great role model and mentor to me. Anne Ackerley (Managing Director, Head of BlackRock’s Retirement Group) was also very influential, providing invaluable advice and guidance, especially as I navigated key career decisions early on in my time at BlackRock. I’ve learned a tremendous amount from the leaders of USWA and GPG, as well as the mutual fund boards and the BlackRock team that manages the board relationship, led by Rob Fairbairn (Vice Chairman and member of BlackRock’s Office of the Chairman) and John Perlowski (Managing Director, President and Director of BlackRock’s US Retail Mutual Funds). I’m regularly inspired by our broader team within GPG, especially by many of our Analysts, Associates and VPs, who are committed to building a strong inclusive culture within the team. 

Internal mobility is a key focus at the firm. What does that look like on your team? 

We have the benefit of working cross-functionally, as many teams at BlackRock do. We’ve had new joiners from sales, product strategy and operations who have leveraged their subject matter expertise to help us progress many different product initiatives. Because we have a lot of interaction with other teams, Product can also be a great starting point to learn about the business more broadly. After being on the team for a few years, we’ve had team members decide that they want to pursue opportunities in other business functions, like Product Strategy, iShares and Client Businesses, to grow their careers outside of Product, leveraging the knowledge and network they developed while on the team. 

How can being part of the alumni community help someone advance their career? 

People have left BlackRock for many different reasons, and they represent a huge collection of experiences and knowledge. Bringing this group together to network and share information and roles can benefit everyone. 

What is a podcast you are listening to or a book you are reading right now? 

I recently finished reading Homegoing by Yaa Gyasi, a book tracing the lives of two half-sisters in Ghana and then multiple generations afterwards in Ghana and America. 

This article was originally published on BlackRock’s Alumni website.