Tony DeSpirito was named managing director and co-head of the equity dividend team at BlackRock, as well as co-portfolio manager for the BlackRock Equity Dividend Fund and related portfolios, a spokeswoman said.
The position is new. Sources familiar with the matter said Mr. DeSpirito will also co-manage the BlackRock North American Income Trust, a long-term equity strategy, with Bob Shearer and Kathleen Anderson, both managing directors. He will report to Chris Jones, co-head of global fundamental equity and chief investment officer for stocks in the Americas.
Mr. DeSpirito was a portfolio manager at Pzena Investment Management. It was not known by press time whether was replaced. Gary Bachman, chief financial officer at Pzena, did not return a phone call.