BlackRock Asset Management's Toronto-based arm has crowned Noel Archard, the global asset management firm¹s current head of U.S. iShares, to succeed Bill Chinery as chief executive officer.

Archard, who most recently discussed exchange-traded funds before the U.S. Senate's Subcommittee Securities, Insurance and Investment on Oct. 19, 2011, was appointed to take over for Chinery, a firm spokesperson confirmed today.

Chinery previously held the chief executive post at BlackRock Canada for roughly 14 years, the spokesperson said, while noting that he will be helping with the transition as he retires.

As of Dec. 31, BlackRock said it had more 48 ETFs in the Canada administered under its iShares division, which amounted to over C$29 billion in assets under management.

In an interview, Rob Fairbairn, head of BlackRock's global client group, said in the report that "Archard brings a distinctive combination of institutional and retail expertise that, combined with his familiarity of the Canadian business, makes him the ideal candidate to build and grow our business to the next level."

Further information regarding the firm's plans with Archard's prior position was not available as of press time.

At the close of March, BlackRock, headquartered in New York, had about $3.6 trillion in assets under management for its institutional and retail clients worldwide.