David Byrket and Frederick Herrmann jumped ship this week to BlackRock Inc., New York, from Weiss Peck & Greer LLC, New York. At BlackRock, they will head a new large-cap quantitative equity team as managing directors. Both were managing directors and co-heads of the quantitative equity team at Weiss Peck, where they managed about $600 million in midcap and large-cap equities. Three other members of the quant team also joined BlackRock: Andrew Jones as a director, and Timothy Rezvan and Guy Lakonishok as vice presidents.
BlackRock spokesman Raymond Ahn said no decision has been made about the fate of existing mutual fund portfolio managers Andrew Damm, co-manager of the equity portion of the balanced and core funds; Steven Ralston and Matthew Considine, co-managers of the growth fund; and Christopher Kaufman, Gemma Ivol, John Chambers and Paul Sloate, co-managers of the value fund. Robert Kapito, co-manager of the equity portion of the balanced and core funds, will remain BlackRock's vice chairman and head of portfolio management.
Pamela J. Cantor, senior vice president at Weiss Peck & Greer, said the six-person quant team is being cut to four. Three positions were filled through internal promotions on the same day the team left - Ms. Cantor declined to name those promoted - and a fourth person is sought, either through internal promotion or an outside search. An SEC filing lists George H. Boyd III and E.K. Easton Ragsdale as co-managers of the WPG Quantitative Equity Fund, replacing Messrs. Byrket and Herrman.