Quintin Price will resign as a senior managing director and head of alpha strategies at BlackRock in the next few weeks, said an internal memo to BlackRock employees provided by the company.
Mr. Price intends to relocate to London, where he will serve as a senior adviser to BlackRock through next summer. Afterward, he plans to retire.
Mr. Price will work with BlackRock President Rob Kapito and alpha strategies Chairman Ken Wilson to ensure a smooth transition of his responsibilities.
Leadership of the investment teams within the alpha strategies group will remain unchanged. Chris Jones and Nigel Bolton will continue to co-lead the firm’s fundamental active equity business, while Rick Rieder, Kevin Holt and Tim Webb will continue to lead the fixed-income business. The heads of each investment team will report to Mr. Kapito.
The memo did not mention any details regarding seeking a permanent replacement for Mr. Price. A spokesman for BlackRock declined to comment beyond what was in the memo.