Asset manager BlackRock's senior executive Mark Wiedman, who was touted to be a potential successor to CEO Larry Fink, is departing the firm, said two sources familiar with the matter.

Wiedman, head of the global client business, was instrumental in driving BlackRock's growth in passive investing.

BlackRock Inc. is elevating several senior executives to expand its business in the Americas and with key institutional clients, following the announced departure of Mark Wiedman, once seen as a potential successor to Chief Executive Officer Larry Fink.

Mark Wiedman was most recently head of BlackRock’s global client business

A potential successor to BlackRock CEO Larry Fink is reportedly leaving the firm, narrowing the list of contenders to become the next boss of the world's largest money manager.