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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

Omicron cases confirmed in 3 U.S. states

A healthcare worker inserts a Covid-19 rapid test into a machine in Denver, Colorado. Photo: Daniel Brenner/Bloomberg via Getty Images

The third confirmed U.S. case of the newly-discovered Omicron variant was detected in a Colorado resident, state health officials said Thursday.

The latest: In addition to Colorado, the variant has been confirmed in California, and Minnesota.

Early winter heat shatters records in U.S., Canada

Temperature departures from average on Dec. 2, 2021, as depicted by the GFS computer model. (Weatherbell.com)

A widespread and intense heatwave is roasting large portions of the U.S. and Canada, shattering daily and monthly temperature records.

Why it matters: Winter is the fastest-warming season across the U.S., and the lingering warmth is shortening the snow season in places like Colorado and Montana, where mountain snowpack is a critical source of water during the summer months.

4 hours ago - Science

COVID time warp

Illustration: Sarah Grillo/Axios

The start of the COVID-19 pandemic seems like a lifetime ago to some, and just yesterday to others. Scientists are beginning to unpack the way people processed the passage of time amidst the stress, uncertainty and isolation of the 1 year, 8 months and 21 days since WHO declared a pandemic.

Why it matters: The pandemic's global effects on how people experience time could provide new insights into the brain's ability to perceive and predict time — a fundamental feature of life.

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