Goldman Sachs Asset Management announced Friday it named Jim O’Neill chairman.

O’Neill was head of global economics, commodities and strategy research for Goldman, Sachs & Co., where he managed the company’s economics, strategy and commodity research teams. He will remain based in London and report to Ed Forst and Tim O’Neill, global co-heads of the Goldman Sachs’ investment management division, which includes Goldman Sachs Asset Management.

As part of Goldman Sachs Asset Management’s senior leadership team, O’Neill will help lead all aspects of the business, working with divisional management and portfolio management teams on developing strategies for clients. The appointment is subject to U.K. regulatory approval.

O’Neill is credited as the creator of the acronym “BRIC” has published a lot of research on emerging markets, specifically Brazil, Russia, India and China and the growth opportunities in those regions. He is a member of the boards of the Royal Economic Society in the U.K., Bruegel and Itinera. He is a member of the U.K.-India Round Table and the UKIBC.

O’Neill also serves on the senior diversity council at Goldman Sachs. He was named head of global economics research in 2001. He joined Goldman Sachs in 1995 as a partner, co-head of global economics research and chief currency economist.

Before being hired at Goldman, O’Neill was head of research globally for Swiss Bank Corp. Before that he worked for Bank of America and International Treasury Management, a division of Marine Midland Bank.

Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group Inc., which had $802 billion of assets under management as of June 30.