BlackRock Names Verizon Chief Ivan Seidenberg to Board

Jan. 20 (Bloomberg) -- BlackRock Inc., the world’s biggest asset manager, said it has named Verizon Communications Inc. Chief Executive Officer Ivan G. Seidenberg to its board of directors.

The appointment of Seidenberg brings the number of members on BlackRock’s board to 19, the New York-based firm said today in a statement. Eleven of the 19 members aren’t affiliated with BlackRock, according to the statement.

Seidenberg, 64, has led Verizon, the second-largest U.S. phone company, since its inception in 2000. He also heads the Business Roundtable, an association of chief executive officers of U.S. companies, and last year was named by President Barack Obama as part of an advisory group aimed at increasing U.S. exports.

Led by Chief Executive Officer Laurence D. Fink, BlackRock manages about $3.45 trillion in client assets.

To contact the reporter on this story: Sree Vidya Bhaktavatsalam in Boston at sbhaktavatsa@bloomberg.net.

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net.