Robert Doll, senior managing director and chief equity strategist at BlackRock, will retire from the firm, according to an internal memo obtained by Pensions & Investments.
Mr. Doll, who also is lead portfolio manager for the firm's large-cap mutual fund series, will transition his responsibilities overseeing BlackRock's $1.6 billion Large Cap Core fund, $1 billion Large Cap Growth fund and its $1 billion Large Cap Value fund through the end of June, but he'll continue to serve in an advisory capacity through the end of 2012, according to the memo.
Chris Leavy, BlackRock chief investment officer of fundamental equity (Americas), will take over Mr. Doll's responsibilities on the Large Cap Series funds, becoming co-manager of those funds alongside Peter Stournaras, managing director.
Bobbie Collins, a spokeswoman for BlackRock, said no decision on finding a new chief equity strategist has been made, as “our entire focus at this point is on a seamless transition for management of the LCS portfolios.”
The internal memo quoted Mr. Doll saying, “I've decided that now is the right time for me to shift my priorities and move to the next chapter of my life,” which he said will allow him to devote more time to his “family, faith and philanthropic interests.”
This story was first reported by Pensions & Investments, an InvestmentNews sister publication.