Fredericks, previously a portfolio manager at JP Morgan, will lead a team focused on developing and managing multi-asset funds for the firm's US retail customers, the New York-listed asset manager said.

Frank Porcelli, BlackRock’s managing director and head of US retail, said the appointment will help meet a demand among the firm’s retail partners for “multi-asset solutions”.

Before joining JP Morgan in 2006, Fredericks was an equity analyst at Nicholas Applegate Capital Management. He has also worked as an investment manager research analyst at Callan Associates.

In related developments BlackRock added Thomas Montag, president of global banking and markets at Bank of America, to its board of directors earlier this month.