BlackRock’s London-based global equity head has quit after less than two years with the firm.
Gary Clarke (pictured), who was also co-head of the global equity platform, joined BlackRock in August 2014 from JP Morgan Asset Management.
His responsibilities – which included co-managing the firm’s Global Focus, Global Core and Long Horizon strategies alongside co-managing the global equity platform and heading up the London-based global equity team – will be taken on by his respective former co-heads.
Clarke was responsible for overseeing $31 billion (£21.6 billion) in AUM, which he co-ran with Tom Callan.
Stuart Reeve, manager of BlackRock's global dividend portfolio, has subsequently been appointed head of global equity in London and co-manager of the Long Horizon Equity Strategy alongside Andrew Wheatley Hubbard.
, who is also head of the global opportunities team, steps up to lead BlackRock’s global equity platform
Teun Draaisma, Clark's former co-manager, will take on full responsibility for the running of the Global Focus and Global Core funds.
A firm spokesperson commented: ‘Gary has informed us of his intention to leave the firm. We thank Gary for his contribution to the firm and wish Tom and Stuart every success in their expanded roles.’
Wealth Manager understands that Clarke has left the fund management industry to launch a firm investing in start-up and early stage UK and European businesses.
At JP Morgan Clarke spent four years as head of global retail and thematic investing, prior to which he was head of European equities at Schroders following fund management roles with Gartmore, Rothschild and Prudential.
Callan has been with the firm since 1998, joining initially as a healthcare analyst following the acquisition of PNC Asset Management.
Reeve also joined as part of an acquisition in 2005 as a food, beverage and tobacco specialist in the integration of Merrill Lynch Investment Managers.