Foreign media: BlackRock is reorganizing its lobbying team to protect the company’s reputation and address regulatory challenges

As a U.S. presidential election year approaches and Congress continues to scrutinize BlackRock, the company is reorganizing a key lobbying team that handles relationships with government officials and regulators. John Kelly, BlackRock’s head of global corporate affairs, recently wrote in a company memo that the money management giant is looking to hire a new head of U.S. government affairs and public policy, as well as a new head of state government affairs. . The state-focused position will be responsible for working from "priority capitals" to manage relationships at the state level. Kelly wrote that in the United States, the company faces "increasing reputational pressure and a complex set of policy challenges." He said the company must "adjust its strategy and deploy additional resources to address these challenges." It is reported that BlackRock has submitted applications for spot Bitcoin and Ethereum ETFs. (Business Insider)