Aaron Wasserman
About Aaron Wasserman
Aaron Wasserman (year of birth: 1974) serves as Chief Compliance Officer (CCO) of BlackRock MuniYield Pennsylvania Quality Fund (MPA) since 2023 and is a Managing Director at BlackRock, Inc. since 2018. He previously served as Deputy Chief Compliance Officer for BlackRock‑advised funds across the Multi‑Asset, Fixed‑Income, and iShares complexes from 2014 to 2023. Executive officers (other than the CCO) receive no compensation from the Fund; the CCO is compensated by the Fund, with compensation overseen by the Board’s Compliance Committee. Performance metrics such as TSR or financial growth targets are not disclosed for the CCO role.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock‑advised funds (Multi‑Asset, Fixed‑Income, iShares Complexes) | Deputy Chief Compliance Officer | 2014–2023 | Led fund complex compliance across three BlackRock complexes, transitioning to CCO in 2023, indicating continuity and scale of oversight responsibilities. |
| BlackRock, Inc. | Managing Director | 2018–Present | Senior compliance leadership role supporting fund governance and regulatory adherence. |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock, Inc. | Managing Director | 2018–Present | Provides executive-level compliance leadership aligned with BlackRock’s fund complexes, reinforcing centralized standards and procedures. |
Fixed Compensation
- The Fund compensates the CCO; other executive officers receive no compensation directly from the Fund.
- The Fund does not have a separate compensation committee; the Board comprehensively reviews the CCO’s compensation, and the Compliance Committee determines the amount and structure of the CCO’s compensation. Specific dollar amounts, base salary, or bonus percentages are not disclosed.
Performance Compensation
- No disclosure of stock awards (RSUs/PSUs), options, performance metrics, weighting, targets, or payouts tied to CCO compensation for MPA.
- The Compliance Committee oversees the CCO’s performance review and sets compensation structure; no vesting schedules or equity-linked incentives are reported.
Equity Ownership & Alignment
| Metric | As of | Value |
|---|---|---|
| Board Members/Board Nominees and executive officers (group) ownership % of outstanding shares | Apr 30, 2025 | <1% |
| Board Members owning Preferred Shares | Feb 28, 2025 | None |
| CFO common share ownership | Apr 30, 2025 | 0 shares (explicitly disclosed for CFO; CCO not individually itemized) |
- Stock ownership guidelines, pledging, hedging policies, and CCO-specific ownership details are not disclosed in the proxy materials.
Employment Terms
| Term | Detail |
|---|---|
| Position | Chief Compliance Officer (CCO) |
| Term of office | Annual; since 2023 |
| Service status | Officers serve at the pleasure of the Board |
| Oversight | Compliance Committee reviews CCO performance and determines compensation structure |
| Address | c/o BlackRock, Inc., 50 Hudson Yards, New York, NY 10001 |
- Severance provisions, change‑of‑control (single/double trigger), accelerated vesting, clawbacks, tax gross‑ups, non‑competes, non‑solicits, garden leave, and post‑termination arrangements are not disclosed for the CCO.
Governance Context (Board/Committee interfaces relevant to CCO)
- The Compliance Committee (Independent Board Members) oversees fund compliance policies/procedures and conducts the annual performance review of the CCO, including determining amount and structure of CCO compensation.
- The Board meets regularly and conducts risk oversight; executive sessions occur outside management’s presence.
- Delinquent Section 16(a) reports: None reported.
Performance & Track Record
- Role progression demonstrates continuity: Deputy CCO (2014–2023) to CCO (since 2023) across BlackRock’s fund complexes, suggesting institutional familiarity and consistent compliance leadership.
- Fund or executive TSR, revenue, EBITDA growth targets and outcomes are not disclosed for the CCO.
Risk Indicators & Red Flags
- Section 16(a) reporting compliance: None delinquent.
- No disclosures of legal proceedings, SEC investigations, related‑party transactions involving the CCO, hedging/pledging by the CCO, option repricing, or say‑on‑pay issues pertinent to the CCO in the materials reviewed.
Investment Implications
- Limited pay‑for‑performance alignment at the executive level: CCO compensation is determined by the Compliance Committee without disclosed performance metrics or equity components, reducing equity‑linked incentives and insider selling pressure signals.
- Retention risk appears governed by annual appointment and Board oversight; no severance or change‑of‑control protections disclosed. The CCO’s long tenure within BlackRock and cross‑complex responsibilities suggest operational stability but provide minimal direct trading signals.