BlackRock Australia, the Australian arm of US asset manager BlackRock, has strengthened its local presence with a key hire.

Michael Prljaca takes the newly-created role of portfolio manager as part of an effort to boost capabilities in fixed income investing. Prljaca joins from the Singapore office, where he was head of Asia-Pacific portfolio compliance. In this new role, he reports directly to Craig Vardy, head of indexed and enhanced portfolio management for
BlackRock Australia.

The appointment is in line with the firm's build-up of a model-based fixed income capability, which it says better reflects investment approaches suitable to the current market environment.

In early July this year, BlackRock entered into an agreement to acquire Swiss Re Private Equity Partners, the European subsidiary of fund of funds firm Swiss Re to expand its capabilities in infrastructure investing.