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.

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.

Mark Wiedman, head of BlackRock's (NYSE:BLK) global client business and potential successor to CEO Larry Fink, is leaving the asset manager after two decades to pursue other opportunities, according to a media report dated Tuesday.

Mark Wiedman, one of BlackRock Inc.’s most senior executives and a potential successor to Chief Executive Officer Larry Fink, is leaving the world’s largest asset manager in a shuffle of its top ranks of leadership.