BlackRock Inc. leadership has made significant changes to the leadership of its many of its active equity portfolio management teams in the past 18 months.
Key changes have occurred in emerging markets, flexible equities, basic value and fundamental large-cap growth and large-cap series teams.
Those changes include:
nIn March, two members of the small-cap and midcap growth equity team were removed — Eileen Leary, a managing director who served as co-head of the team, and Andrew Leger, who was a director and research analyst. Lawrence Kemp, who in December was named chief of the fundamental large-cap growth team, took on the duties of both persons. Mr. Kemp had replaced Jeffrey Lindsey, the previous fundamental large-cap growth leader.
nIn February, BlackRock removed the U.S.-based portfolio team of Dennis Walsh and Dan Neumann, who had run its energy and natural resources group. They were replaced by Robin Batchelor and Poppy Allonby, portfolio managers in London who had run overseas energy strategies.
nAlso in February, Andrew Thut, a managing director on BlackRock's small-cap and midcap growth equity team and a portfolio manager for the small-cap growth strategy, was replaced and portfolio management responsibility for the strategy was transferred to BlackRock's scientific active equity team.
nIn September 2012, Bart Geer, a senior portfolio manager at Putnam Investments, was named the new head of the basic value equities team. He replaced Kevin Rendino, a long-standing portfolio manager who had been head of the team.
nIn June 2012, Chris Leavy, CIO of fundamental equity (Americas), took over responsibilities on the large-cap series strategies, becoming co-manager with Peter Stournaras, already a portfolio manager on the team. They replaced Bob Doll, BlackRock's chief equity strategist and the lead portfolio manager on the large-cap series.
nIn May 2012 Timothy Keefe joined BlackRock from Mayo Capital Partners to lead the flexible equity team, replacing Anthony Forcione.
nIn January 2012, Daniel Tubbs, co-head of the emerging markets team, left the firm and was replaced by Luiz Soares. Mr. Soares had run Axiom International Investors emerging markets equity strategy.