BlackRock has hired a new head for its US private client business from Chicago-based Nuveen Investments, which is the target of a $6.3bn (€4.6bn) takeover from a consortium led by private equity firm Madison Dearborn.

Michael Lewers will join BlackRock on September 4 and be responsible for investment product sales. He will report to Frank Porcelli, managing director and head of the firm's private client group.