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Bank of America Strategist Rosenberg to Join BlackRock

(Corrects story Aug. 10 to show Rieder hiring date in third paragraph.)

Aug. 10 (Bloomberg) -- Jeffrey Rosenberg, head of global credit strategy at Bank of America Corp., has left the largest U.S. lender to join BlackRock Inc.

Rosenberg will be chief investment strategist of fundamental fixed income at BlackRock, said Bobbie Collins, a spokeswoman for the firm in New York. He started at Bank of America in 2002 after leaving Credit Suisse Group AG, where he was a director of U.S. investment-grade strategy.

BlackRock, the world’s biggest money manager, has been expanding its debt team after naming Rick Rieder as chief investment officer of fixed income last year, after he joined in 2009. Its assets under management rose 0.3 percent in the second quarter to $3.66 trillion, helped by $12.1 billion in market gains, mostly from fixed-income investments, and $14.2 billion in foreign-exchange gains.

Rosenberg will report to Robert Stanley, head of retail fixed-income within BlackRock’s portfolio management group, Collins said.

Rosenberg said he couldn’t comment. Rinat Rond, a Bank of America spokeswoman declined to comment.

To contact the reporters on this story: Lisa Abramowicz in New York at labramowicz@bloomberg.net; Shannon D. Harrington in New York at sharrington6@bloomberg.net;

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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