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Tuesday, June 5, 2012

BlackRock's Doll Moves On to the Next Chapter

News summary by MFWire's editors

Larry Fink is about to say goodbye to one of BlackRock's [profile] most prominent executives. Bloomberg, Dow Jones and Reuters all report that Bob Doll, BlackRock's 57-year-old chief equity strategist, will step down at the end of the month. He'll stay on as an advisor to the firm until retiring at year-end.

Among Doll's responsibilities were overseeing BlackRock's $1.6-billion Large Cap Core fund, its $1-billion Large Cap Growth fund and its $1-billion Large Cap Value fund.

Doll reportedly said in a memo:

"I've decided that now is the right time for me to shift my priorities and move to the next chapter of my life. While investing will always be a passion for me, I also want more time to devote to my family, faith and philanthropic interests."

Chris Leavy will take Doll's responsibilities in the Large Cap Series. The memo also stated that Peter Stournaras will co-PM the funds.

Doll came to BlackRock as part of the Merrill Lynch Investment Management deal in 2006, after serving as president of MLIM since 2001. 

Edited by: HFD

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