Abdi Mohamed was rushed to hospital after being stabbed in the neck yards away from his workplace in Upper High Street, Wednesbury, on Tuesday lunchtime.
However nothing could be done to save the 26-year-old and he was pronounced dead shortly afterwards.
A 38-year-old man who was arrested on Tuesday is now being questioned on suspicion of murder.
Detective Inspector Wes Martin, from the West Midlands Police homicide unit, said: "A man has tragically lost his life and we're doing all we can to support his family who are understandably devastated.
"Our enquiries to establish the circumstances leading to this attack are ongoing and we're grateful to support of everyone who has provided us with information so far.
"However, we remain keen to hear from anybody who hasn't come forward so far but can assist our investigation."
A spokesman for easy4insruance, where Mr Mohamed worked for two years, said: "Our thoughts are with his family in this difficult time.
"Abdi has been employed by Bromwich Insurance for two years as a Personal Insurance Advisor, he was in the process of progressing to Commercial Insurance Advisor such was his ability’s for learning.
"He was a very much loved member of our team and will be missed by us all for years to come.
"He was actually only 26 years old and it is a travesty that such a wonderful beautiful man has been taken from us. "
Meanwhile a councillor has called for the community to come together after the "dreadful" stabbing.
Councillor Elaine Costigan, for Wednesbury North, was in the town centre on Tuesday when the incident happened.
Witnesses heard screaming as the victim was attacked outside Trendy Carpets and Flooring.
He was treated by two off-duty medics until emergency services arrived while his attacker is believed to have made off in a van.
Councillor Costigan said: "We were in the vintage cafe and saw police officers running and heard a helicopter.
"It's just so dreadful, at such a young age.
"People are scared anyway and people keep saying I've never known anything like this but the world is a different place now.
"I've been a councillor for 19 years and even I can see the changes, it's something I never think is going to happen here.
"We've got to bring the community together and realise that it was a targeted attack.
"Us three local councillors were on the phone talking about it yesterday, we phoned the sergeant and asked for an update as we were getting asked.
"People were putting pictures and videos on Facebook of the victim too so the sergeant put something out on the Facebook group asking people to take them down.
"It is dreadful, I don't know the lad but our thoughts are with his family, it's just awful."
Councillor Costigan said the street was still cordoned off by police on Wednesday lunch time and a forensic tent was outside the carpet shop.
Rafaket Khan, who runs the nearby Ghosa Foodstore, recognised the victim as a regular customer.
He said on Tuesday: "He is a really humble bloke, I can vouch for this kid - every morning I open up and he comes in and usually buys a drink.
"He is the type of guy where even if he only had five minutes and there was someone else behind him, he would move back and let them be served first - he is a really nice guy.
"It hurts knowing that this has happened because he would never hurt a fly, he is really kind and a really really nice guy."
Anyone with information is asked to contact police on Live Chat through the website or call 101, quoting log 1871 from 8 June.
Alternatively, contact Crimestoppers anonymously on 0800 555111 or at crimestoppers-uk.org
It comes as a woman was shot in the chest in one of two shootings in Wolverhampton on Monday evening.
The West Midlands Police and Crime Commissioner, Simon Foster said: “This violence is disturbing to us all. I know that West Midlands Police will be thorough with their investigations and will be working swiftly to ensure that justice is served for the victims.
“Nothing is more important to me than ensuring that the people and communities of the West Midlands are kept safe. In my manifesto, tackling violence was one of my top objectives and the Violence Reduction Unit is already working at pace to reduce it.
“These incidents highlight the need for police, communities and other organisations to come together to tackle violence in the region, especially when it comes to preventing violent crime and keeping young people safe.”