BlackRock, the New York-listed asset manager, has appointed Kendrick Wilson, the investment banking luminary, as a vice chairman and member of the office of the chairman.

In this role Mr Wilson will work with employees throughout the firm to support client relationships, the firm said in a statement. He will also work closely with the executive management team on various organisational and professional development efforts.

Mr Wilson served as an advisor in the US Treasury Department between 2008 and January 2010. Before this he was vice chairman – investment banking at Goldman Sachs, having also served as a member of the executive office and chairman of the financial institutions group. Before he joined Goldman in 1998 Mr Wilson was vice chairman, member of the executive committee and head of investment banking at Lazard Freres & Co.

"Ken brings a deep understanding of financial markets and the financial services industry. His unique perspective, informed by his vast experience in the industry, will be valuable to our clients as they consider the changing landscape, and their investment and risk management strategies,” said Laurence Fink, chairman and chief executive of BlackRock.

“Ken will also be a valued advisor to BlackRock's management team as we evolve our operating and governance models."

Last week BlackRock reported a fourth-quarter net income on a non-adjusted basis of $256 million, down by 19 per cent from $317 million in the preceding quarter, but up 392 per cent from the $52 million income figure for Q4 2008.

BlackRock’s acquisition of Barclays Global Investors, which closed on 1 December 2009, contributed $94 million to its fourth-quarter net income, more than offset by a $108 million after-tax expense and the integration costs associated with the deal, BlackRock said.

Fourth-quarter 2009 net income, when the BGI transaction was taken into account, was $379 million, up from $90 million the previous year – a rise of 321 per cent.

Revenue for the final quarter of last year was $1.54 billion, up from $1.06 billion a year before, representing a rise of 45 per cent.

Full-year comparisons between 2008 and 2009 were as follows: non-adjusted net income for 2009 was $875 million, rising 12 per cent from $784 million for 2008; adjusted net income was $1.02 billion for last year, up 19 per cent from $856 million in 2008; and 2009’s revenue was $4.70 billion, compared to $5.06 billion for 2008 (a fall of 7 per cent).

BlackRock’s assets under management stood at $3.35 trillion at end-2009, having been $1.43 at the end of the third quarter and $1.31 trillion at 31 December 2008 – a quarterly rise of 133 per cent, and a year-on-year surge of 156 per cent.