Simon Blundell, a managing director at BlackRock, has been appointed as head of European fundamental fixed-income investments, according to an emailed statement from the firm.
Blundell replaces Michael Krautzberger, BlackRock's managing director and head of EMEA fundamental fixed income and the lead portfolio manager for euro fixed-income portfolios, who told BlackRock he intends to leave the firm for “a new opportunity.”
Blundell will be “assuming Michael’s responsibilities and existing members of the fundamental fixed-income team will assume additional portfolio management responsibilities where Michael was a named portfolio manager,” a BlackRock spokesperson said.
Blundell will report to Rick Rieder, senior managing director and chief investment officer of global fixed income.
Blundell also serves as head of sterling bond portfolios within the fixed-income team at BlackRock, the statement said.
“BlackRock’s team-based approach to managing portfolios ensures continuity for our clients,” the firm added in the emailed statement. “Existing members of the fundamental fixed-income team will assume additional portfolio management responsibilities, reflecting the continuous work to develop new leaders on the investment team.”
BlackRock added in the statement that it does not anticipate any changes to the research and investment process.
