View more on these topics

BlackRock veteran Dennis Stattman to retire in August

BlackRock veteran fund manager Dennis Stattman is to retire from the asset management giant in August after 28 years at the firm.

Stattman is the lead co-manager of the £14bn BlackRock Global Allocation fund.

The multi-asset fund will continue to be run by the four other co-managers Dan Chamby, David Clayton, Kent Hogshire, and Russ Koesterich.

Stattman serves as head of the global allocation team within BlackRock’s multi-asset strategies group. He is also a member of BlackRock’s global operating and leadership committees.

According to an internal memo sent today, Stattman will continue as an adviser to BlackRock’s multi-asset strategies group after he retires.

The memo says: “Befitting its long-term orientation, the global allocation team has been anticipating this [manager] transition for many years, expanding its resources, evolving its processes and consistently emphasizing a team approach to portfolio management”.

A year ago BlackRock hired Koesterich to the global allocation team, led by Lisa O’Donnell, to reinforce portfolio construction and risk management. O’Donnell will continue in her role after Stattman’s departure.

The firm says: “BlackRock Global Allocation has been the cornerstone of millions of investor accounts through three decades for a reason. And Dennis is one of those reasons. His global vision and investing acumen made a product into a solution for retirees, college savers and so many others with a long-term view. His foresight helped to create a team to sustain that vision long into the future.

“We will have more to say about Dennis when he steps down from his role at global allocation later this year. For now, we would like to thank him on behalf of the firm for being a great investor. Most of all, we would like to thank Dennis for helping to build a franchise that can serve clients for generations to come”.




Osborne to earn £650k a year at BlackRock

BlackRock will pay former chancellor George Osborne £650,000 a year for working four days a month as an adviser. Osborne will advise on European politics and policy, Chinese economics and market trends, according to the Financial Times. The figure is Osborne’s total remuneration, but the figure may rise as he expects to get shares in […]


BlackRock beats Vanguard to top European ETF ranking

BlackRock has retained its position as the dominant ETF player in Europe with its iShares range, leaving rival Vanguard far behind in the rankings, Morningstar data shows. As of December, iShares has €253bn (£215bn) assets covering almost half of the ETF European market share. ETF providers db X-trackers, Lyxor, UBS ETFs, Amundi ETF and Vanguard […]


SJP under fire again over charges and exit fees

Clients of St James’s Place have attacked the firm over what they say is an opaque charging structure and punitive levels of exit fees. The Sunday Times was asked to examine what retired solicitor Arnold Rosen had been charged by SJP between 2009 and 2015 after Rosen could not work out the level of charges […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment