American investment management firm BlackRock has named Leo Seewald as new country head for Taiwan reporting to Michael Marquardt, COO for Asia Pacific.

In his new role, Seewald will oversee and head the company’s all Taiwan business interests and drive its local market strategy.

Seewald will be responsible for driving BlackRock’s strategy in Taiwan where the firm is looking to expand beyond its well-established retail franchise into the institutional business.

Seewald has joined BlackRock from Canada-based Manulife Financial Corp, where he was chairman of Manulife Asset Management in Taiwan and also deputy general manager of Manulife International’s Taiwan branch.

Seewald with more than two decades of industry experience has worked in several senior management roles in Asia for 13 years and the past four of which have been based in Taiwan.

The company has held a board meeting to elect Seewald to be its chairman pending the regulatory approval.

"The growth prospects for Taiwan as a critical hub for retail in the region provide significant opportunities for us as we continue to expand our global footprint," Marquardt said.

Blackrock manages assets worth US$4.096 trillion as of 30 September 2013.