Stuart Niman, manager of the £586 million BlackRock Cash fund, has left the firm after 12 years.
Niman also ran BlackRock’s offshore Euro Reserve fund, and his responsibilities on both funds have been assumed by Bea Rodriguez.
‘We are grateful for his contributions to the global cash business and wish him the best of luck in his future endeavours,’ a spokesperson for BlackRock told Wealth Manager, confirming that Niman was moving on ‘to pursue new interests outside the firm’.
The spokesperson added that ‘Bea brings extensive market experience to the role and has deep relationships with our clients across the region’. Rodriguez has worked at BlackRock since 2009, having previously been a gilt and money markets portfolio manager at Fidelity.
BlackRock’s global cash management team consists of 28 investment professionals, responsible for more than £160 billion of assets worldwide.