Curtis Arledge will join BlackRock Inc.’s fixed-income portfolio management group as a managing director and co-head of U.S. fixed income, effective July 1, said Barbara Novick, BlackRock vice chairman. Mr. Arledge replaces Andrew Phillips, who is taking on the new position of global COO of fixed income. Mr. Arledge will be responsible for managing fixed income with a sector emphasis on non-agency asset-backed and mortgage-backed securities. Stuart Spodek remains the other co-head of U.S. fixed income. Previously, Mr. Arledge served as global head of Wachovia Corp.’s fixed-income division, but also was a BlackRock fixed-income portfolio manager from 1988 to 1993. Wachovia spokeswoman Alex Ball wasn’t immediately available to comment.
In addition, Todd Kopstein, a managing director who has served as lead sector specialist for asset-backed securities and a lead portfolio manager for short-duration mandates will leave BlackRock, confirmed spokesman Brian Beades. He said he has no information on Mr. Kopstein’s plans. Mr. Arledge and Tom Musmanno, a director with BlackRock, will assume lead portfolio manager duties for the short-duration mandates, while Eric Pellicciaro, a managing director with BlackRock, will assume Mr. Kopstein’s duties as lead sector specialist for asset-backed securities.
