Chris Leavy, the former chief investment officer of equities at OppenheimerFunds, has been hired as CIO of U.S. fundamental equity at BlackRock Inc., a newly created position.

Leavy will oversee BlackRock's $150 billion U.S.-based fundamental equity business.

While at OppenheimerFunds, Leavy directed investment personnel and business strategy for the firm's $80 billion equity business.

He also served as head of the value equity group from 2000 to 2006. Before that, he managed that group's flagship Value Fund, achieving top quintile performance within the large-cap peer group.

Before joining OppenheimerFunds, Leavy led a four-person investment team at Morgan Stanley Asset Management with responsibility for large-cap core equity portfolios totaling $6 billion.

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