Andrew Ang, the head of the factors, sustainable and solutions team within BlackRock’s systematic active equities business, will be leaving the firm in the first quarter of 2025 to “take his career in a new direction,” according to an internal memo from the company obtained by Pensions & Investments.
Ang, who also holds the title of managing director, will be moving on almost 10 years after joining BlackRock from Columbia Business School, where he was the Ann F. Kaplan professor of business and chair of the finance and economics division.
The memo offered no further details regarding Ang’s next move, and a BlackRock spokeswoman likewise declined to elaborate. Ang, meanwhile, couldn’t immediately be reached for comment.
Through the first quarter of the coming year, Ang will serve “as an advisor to BlackRock Systematic and the broader firm, helping us to develop market and investment insights for clients,” the memo said.
Providing insights has been the focus of Ang’s team, which had no specific portfolio management responsibilities. Phil Hodges, the lead portfolio manager on BlackRock’s enhanced factor-related strategies, and his team within systematic active equities will continue to oversee the management of BlackRock’s active factor-based strategies.
Ang’s responsibilities will be absorbed by other team members, and the team itself will be integrated into the broader systematic active equity team led by Jeff Shen, co-CIO and co-head of systematic equities, the memo said.
