The asset management giant BlackRock has added Marco Antonio Slim Domit, son of multibillionaire Carlos Slim, to its board of directors.

Slim Domit is the chairman and chief executive of Grupo Financiero Inbursa, a Mexico-based holding company that provides banking among other services - a role he has held since 1997. His addition to BlackRock’s board brings the number of members to 17, with 10 independent directors.

“Tony brings to our board a global business perspective, with particular expertise in the financial services industry in the fast-growing markets of Latin America,” said Laurence Fink, chairman and CEO of BlackRock, adding that these were a “key priority” for the firm, which managed around $3.66 trillion as of 30 June.

Slim Domit’s other responsibilities include positions as president of The Carlos Slim Health Institute and vice chairman of the board of Impulsora del Desarrollo y el Empleo en America Latina.

He is part of the ultra-wealthy family headed by Carlos Slim, which has ranked top of Forbes’ billionaire list two years in a row, with a net worth of $74 billion, as of March this year. Slim last year acquired shares of BlackRock, according to Bloomberg Businessweek.