BlackRock's Doll finds a new home at Nuveen

Lure of managing money too hard to ignore; new funds on tap

Nov 26, 2012 @ 12:12 pm

By Jason Kephart

The retirement of Bob Doll, former chief equity strategist at BlackRock Inc., turned out to be greatly exaggerated.

Less than six months after announcing his retirement, the 34-year asset management industry veteran has signed on as the chief equity strategist at Nuveen Asset Management LLC.

“I never said for sure I was retiring from the business,” Mr. Doll said today in an interview. “I really missed the day-to-day of managing money and talking about markets more than I thought I would.”

Mr. Doll was also named a senior portfolio manager at Nuveen. The firm will begin seeding new U.S. large-cap mutual funds for Mr. Doll to manage in the next few months.

Mr. Doll had previously overseen the U.S.-large-cap-equity team at BlackRock and managed a trio of mutual funds.

His departure from BlackRock came shortly after it was revealed that his proprietary quantitative methods were actually third-party models he had tweaked and customized.

“I've used third-party supply, but tailored them to be proprietary, all my career, and I will continue to do so,” Mr. Doll said. “I've had sort of the view of beg, borrow and steal whatever you can. There's no monopoly on good ideas.”

Quantitative strategies make up only half of Mr. Doll's investment process. He also relies on fundamental research.

For Nuveen, which is primarily known for its municipal bond strategies, Mr. Doll's hiring marks the next step in its evolution as an asset manager, according to William Huffman, the firm's president.

“We're strategically transforming to become a multiasset class business.” he said.

There's still a long way to go. About $90 billion of Nuveen's $117 billion of assets are in its municipal bond strategies.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Why broker-dealers are on a roll

Deputy editor Bob Hordt and senior columnist Bruce Kelly discuss last year's bounce-back for IBDs.

Latest news & opinion

Things are looking up: IBDs soared in 2017

With revenue up, interest rates rising and regulation easing, IBDs are soaring.

SEC advice rule may give RIAs leg up over broker-dealers

Experts say advisers will be able to point to their role as fiduciaries as a differentiator in the advice market.

Brokers accept proposed SEC rule on who can call themselves an adviser

Some say the rule will clear up investor confusion, but others say the SEC didn't go far enough.

SEC advice rule: Here's what you need to know

We sifted through the nearly 1,000-page proposal and picked out some of the most important points.

Cadaret Grant acquired by private-equity-backed Atria

75-year-old owner Arthur Grant positions the IBD for the 'next 33 years.'

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print