(June 13, 2011) — As BlackRock aims to double assets with sovereign funds and central banks, Terrence Keeley has joined BlackRock as managing director and head of the firm’s official institution’s group.

“We’re delighted to be bringing an executive of Terry’s caliber to BlackRock,” Robert Fairbairn, Senior Managing Director and Head of BlackRock’s Global Client Group, said in a statement. “Terry’s depth of experience and deep understanding of sovereign markets significantly enhances our ability to offer official institutions customized investment solutions.”

In the newly created position, Keeley will be responsible for overseeing the development of the relationships and services of BlackRock, which manages $3.65 trillion in assets.

Keeley will also play a role in supporting the design and execution of the BlackRock Investment Institute. Launched earlier this year, the Institute is a global platform designed to leverage the firm’s expertise in markets, asset classes and investor segments to generate investment insights that drive enhanced investment performance for clients, the firm stated.

Based in New York City, Keeley will report jointly to Fairbairn and Lee Kempler, Managing Director and the Executive Director of the Investment Institute.

“During the financial crisis, BlackRock established itself as the go-to firm for sovereign and private institutions alike,” Keeley noted in a release. “Now, with the integration of Barclays Global Investors complete, BlackRock serves the interests and needs of official institutions like no other global investment manager. I am also thrilled to be joining BlackRock’s Investment Institute, an industry-leading initiative that is shaping global dialogues on the most important investment issues of our day.”