Photo: Richard Lautens/Toronto Star via Getty Images

Mark Wiseman is out at BlackRock, where he was considered a possible successor to CEO Larry Fink, after engaging in a consensual affair with a subordinate without disclosing it to the company.

The big picture: He's already been removed from the company website, and emails to his BlackRock account bounce back. Wiseman, whose wife also works at BlackRock, joined in 2016 after leading the Canada Pension Plan Investment Board.

  • He was credited at CPPIB with developing its direct private equity investment strategy, part of the "Canadian model" that has become the envy of U.S. public pension funds.
  • It was something he was helping to adapt to BlackRock, both via a new "long term capital" fund and by bidding to advise CalPERS on its own direct investment plan (which has since been put on ice).

A BlackRock spokesman cautioned Axios not to overstate Wiseman's role in private equity, saying his primary job was as global head of active equities.

  • His part-time job was chairman of BlackRock Alternative Investors — which includes PE, hedge funds, etc. — where group head Edwin Conway remains in place (and never reported directly to Wiseman).
  • Wiseman also served on the BAI investment committees and chaired the LTC fund, which will continue to be led by Andre Bourbonnais.

This seems pretty simple:

  1. Don't sleep with subordinates.
  2. If you feel you must, tell HR.
  3. But if you don't want to tell HR, perhaps because your spouse also works at the same company, refer back to #1.

Go deeper: After brief Khashoggi boycott, BlackRock's Larry Fink returns to Saudi Arabia

Go deeper

Biden: The next president should decide on Ginsburg’s replacement

Joe Biden. Photo: Drew Angerer / Getty Images

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

Trump, McConnell to move fast to replace Ginsburg

Photo: Alex Wong/Getty Images

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 30,393,591 — Total deaths: 950,344— Total recoveries: 20,679,272Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 6,722,699 — Total deaths: 198,484 — Total recoveries: 2,556,465 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.