Director, Investment Strategy - BlackRock Investment Institute (BII) - Italy

About this role

What team will you be on?

The BlackRock Investment Institute (BII) brings together BlackRock’s expertise and proprietary research to provide insights on the global economy, financial markets, geopolitics, sustainable investing, portfolio construction and long-term asset allocation. The team helps portfolio managers and clients navigate changing market conditions by connecting investment professionals with timely, actionable thinking across markets, asset classes and client segments.

You will join the Investment Strategy team, led by BlackRock’s Global Chief Investment Strategist.

Why is your role important?

As a Milan-based Director and Investment Strategist, you will develop research and analytics that inform global Tactical Asset Allocation (TAA) views and their portfolio implications. At least half of your time will focus on hands-on research, including data analysis, investment modelling and the development and testing of cross-asset hypotheses. You will also represent BII’s investment views in selected client engagements, primarily across Southern Europe, with an initial focus on Italy and potential coverage of Spain, Portugal and Greece. Your work will connect rigorous investment research with the questions and priorities of portfolio managers, professional investors, advisers and internal partners.

What will you be doing?

In every role at BlackRock, you'll be expected to apply sound judgement and critical thinking to solve complex problems, adapt as the business evolves, and combine the curiosity to explore new approaches and technologies with the rigor to challenge the results. The scope of this role also includes the following responsibilities:

TAA research and analytics (at least 50% of the time)

• Own research from question to conclusion. Lead agreed projects from the initial investment question through data analysis, modelling, translating findings into actionable investment conclusions and taking responsibility for the quality and delivery of the work.
• Develop and critically evaluate investment models, test asset-allocation hypotheses, assess the strength and limitations of the evidence, and use research to support or challenge investment views.
• Contribute to investment discussions. Identify topical macroeconomic and asset-allocation questions, prepare substantive inputs for the monthly investment meeting cycle, and present and defend conclusions with the wider TAA team.

Client engagement and regional collaboration

• Deliver selected Italian client engagements. Take responsibility for the agreed program of client meetings and smaller events, presenting’s BII macroeconomic and market insights and explaining specific portfolio implications.
• Connect research with client needs. Collaborate with regional Wealth, Institutional Client Business (ICB) and Investment Portfolio Solutions (IPS) colleagues to connect investment insights to relevant client partnerships and product or solution discussions, while bringing recurring client questions into the research agenda.
• Ideally cover Spain/Portugal. Extend client coverage subject to an agreed remit, language capability and travel requirements.

What are we looking for?

Essential experience and capabilities

• Investment experience and judgement: At least 10 years of relevant experience and a strong track record in tactical asset allocation, multi-asset investing, macro investment strategy or cross-asset research, with the ability to translate analysis into defensible investment conclusions.
• Hands-on analytical capability: Evidence of personally conducting empirical research and developing or critically evaluating investment models, supported by a sound understanding of macroeconomic drivers, equities, fixed income and portfolio risk.
• AI-enabled: Experience using AI-assisted coding and other approved analytical tools to improve research workflows, with appropriate validation of data, methods and outputs.
• Client communication: Strong writing, presentation and client communication skills, including the ability to explain investment views and portfolio implications, respond to sophisticated questions and adapt material for professional investors, advisers and internal commercial audiences without losing substance.
• Language capability: Professional fluency in Italian and English, with the ability to present investment views and respond confidently to client questions in both languages; Spanish-language capability is a plus.
• Director-level ownership: Demonstrated ability to lead research workstreams and client engagements independently, manage competing priorities and collaborate across investment and commercial teams.

Additionally, employees are eligible for an annual discretionary bonus, and benefits including healthcare, leave benefits, and retirement benefits. BlackRock operates a pay-for-performance compensation philosophy and your total compensation may vary based on role, location, and firm, department and individual performance.

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

Guidance on AI use for candidates

At BlackRock, AI has long been part of how we work – enhancing decision-making, improving operations, and helping us deliver better outcomes for clients. We encourage candidates to use AI thoughtfully to learn, prepare, and work more effectively; but during our interview process, we want to focus on getting to know you through your own experiences, thinking, and judgment. To support you, we’ve provided guidance on when and how to use AI during our hiring process so you can approach each step with confidence and showcase your best self.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being.  Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

To learn more about BlackRock, please visit Careers.BlackRock.com. We also encourage you to get to know us on LinkedIn, Instagram, YouTube, X, and TikTok.

BlackRock is proud to be an Equal Opportunity Employer.  We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.