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Gallagher exits BlackRock MLIM European Dynamic fund

BlackRock MLIM European dynamic fund manager Niall Gallagher has left the group to join US fund manager T Rowe Price.

Gallagher has run the £191m fund for three years and returned top quartile figures over one and three years.

The fund will pass to head of European equities James Macmillan who lead manages the £190m continental European fund.

Gallagher was placed on gardening leave yesterday (Monday) after nine years at the group.

BlackRock MLIM head of UK retail Richard Royds says: “We are very sorry to see Niall go but sometimes opportunities come up. His fund has switched to James MacMillan so investors can be assured it has the highest quality cover straight away.”

“James heads up our strong European team which has three fund managers and six analysts and overall the group has seen fantastic retention of managers over the last three years.”

Chelsea Financial services managing director Darius McDermott syas: “Niall has done a good job but we also hold James MacMillan and the team in the highest regard.”

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