UPDATE 1-Top Canada finance ministry official Boivin to join BlackRock

Mon Aug 11, 2014 4:10pm EDT
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(Adds details, quotes, background; in U.S. dollars)

By David Ljunggren

OTTAWA Aug 11 (Reuters) - Top Canadian finance ministry official Jean Boivin will join the London office of BlackRock Inc, the world's largest money manager, the firm said on Monday.

Boivin, seen as a contender to head the Bank of Canada one day, is the second most powerful official at the ministry. Reuters broke the news last week that he would be leaving his post on Aug. 29.

Boivin will start work as deputy chief investment strategist at the BlackRock Investment Institute on Sept. 15, the firm said in a statement.

Boivin also serves as Canada's representative at the Group of Seven, the Group of 20, and the G20's Financial Stability Board, which monitors the global financial system.

"His vast knowledge of the global financial and economic landscape and deep policymaking experience are invaluable assets," said Lee Kempler, the BlackRock institute's executive director.

The institute provides the firm's portfolio managers with insights on sovereign risk and the macro investment outlook.

"I'm excited to be able to bring my experience and ideas to BlackRock as it executes on its mission of delivering exceptional investment performance and deep capital market insights to its clients," Boivin said in the statement.   Continued...