BlackRock has appointed Chris Leavy to the newly-created position of chief investment officer of US Fundamental Equity, aiming to strengthen its fundamental equity business.

Leavy was most recently CIO of equities at OppenheimerFunds, directing investment personnel and business strategy for the firm's $80 billion equity business. Previous roles include leading an investment team at Morgan Stanley Asset Management.

In his new role he will be responsible for overseeing BlackRock's $150 billion US-based fundamental equity business. He will report to Quintin Price, global chief investment officer for fundamental equity.

BlackRock’s assets under management stood at $3.151 trillion as at 30 June 2010. The firm is headquartered in New York City.