(Reuters) - BlackRock Inc , the world's largest asset manager, said on Wednesday that its co-president Charles Hallac died after battling cancer for nearly four years.A BlackRock veteran of 27 years, Hallac conceived the Aladdin investment operating system, which helped the firm's growth over the years, the company said.BlackRock released the following statement:Charlie Hallac was BlackRocks first employee, joining the firms eight partners in 1988 with the goal of building the technological and operational foundation of the firma system of analytics and other tools that could provide clients with significantly improved investment and risk management. He purchased the firms first computer server, placing it between the coffee machine and refrigerator in the firms one-room office. That computer served as the first step in building Aladdin, which today is considered the best-in-class end-to-end investment and risk management platform and is used by financial institutions worldwide. He built a team of nearly 2,000 programmers, modelers and risk and data analysts to support Aladdin. The system serves as a powerful unifying force and common language for the firms more than 12,000 employees and continues to propel BlackRocks growth.He also founded the firms BlackRock Solutions business, which provides the Aladdin platform and other advisory services to financial institutions. He was a key player in BlackRock Solutions efforts to assist the U.S. Department of the Treasury, the Federal Reserve, foreign governments, and major financial firms to stabilize the financial system in the wake of the 2008 crisis.In 2009, Charlie Hallac became BlackRocks Chief Operating officer, leading firmwide integration of Barclays global asset-management business following its purchase by BlackRock. Elevated to Co-President in 2014, he continued to instill BlackRocks principles across the firms operations, promoting a culture of continuous innovation in the service of clients.He fought cancer for nearly four years with tremendous courage. He continued to work virtually every day while undergoing treatment, even returning to the office after receiving chemotherapy. Throughout his illness, he tirelessly pushed for continued evolution of the business to anticipate and respond to the rapid changes in technology. This included most recently an address to the firms global leadership summit in Silicon Valley in April 2015. His vision was that Aladdins capabilities be available not only to large institutions, but that it could also directly empower advisors and end investors.Prior to joining BlackRock, Charlie Hallac was an associate in the Mortgage Products Group at The First Boston Corporation. He earned a B.A. degree in economics and computer science from Brandeis University in 1986.The Hallac family has asked for any donations in Charlies memory to be made to the Memorial Sloan Kettering Cancer Center:http://mskcc.convio.net/site/TR/Events/General'pg=fund&fr_id=1580&pxfid=51192(Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)Join the conversation about this story
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