The US $6.8 trillion global investment giant has appointed a head of Melbourne in a newly-created role following strong demand for its strategies from local investors.
David Porter will move from London where he is the managing director, head of UK consultant relations with BlackRock.
As head of the Melbourne office, Porter will develop new strategic relationships and deliver tailored solutions for BlackRock's local clients, the company said.
BlackRock manages money on behalf of Australian superannuation funds, insurers, asset managers, banks, government and adviser-led retail clients.
It has a big presence in outsourced investment management for superannuation funds. BlackRock raised over $2 billion in the year to March from not-for-profit superannuation funds, primarily in its international and Australian fixed interest capabilities, according to the latest Rainmaker Mandate Chaser report.
For example, UniSuper awarded BlackRock a $140 million mandate last July as it took its first major investment in Asian debt.
Porter will report to BlackRock's new head of Australasia Andrew Landman and Australasia head of client business Jason Collins.
"Our clients increasingly look to BlackRock to help them navigate a changing environment with significant disruptions due to geopolitical, regulatory and demographic trends. As BlackRock's business in Australia and New Zealand continues to grow, it's important that our clients across the region are fully supported," Landman said.
"To that end, and to support our growth specifically in Victoria, I'm delighted to welcome David to the newly created role of head of Melbourne."
Porter joined BlackRock in 2017 after working at PIMCO as its head of UK business development for about 10 years. Prior to PIMCO, he worked in the fixed income derivatives groups for Merrill Lynch and Credit Suisse in Hong Kong.
He starts in the new role on 1 January 2020.
"I am excited to return to Australia and look forward to working with my global and Australian colleagues to provide holistic solutions to our Victoria-based clients, and to seize on new and future opportunities in the market," Porter said.
In April, BlackRock appointed Andrew Landman as the new head of Australasia to succeed Dominik Rohe who became the head of the Latin America region.