Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Ex-UBS man Kemp joins BlackRock to bolster ‘disappointing' large cap arm

Ex-UBS man Kemp joins BlackRock to bolster ‘disappointing' large cap arm

Former UBS manager Lawrence Kemp is joining BlackRock to lead the firm’s fundamental large cap growth team and help improve performance in this area.

Kemp, who joins on 10 December in the US, is set to assume leadership of the BlackRock Capital Appreciation, BlackRock Focus Growth and related fundamental large cap growth portfolios, at the start of next year.

Jeff Lindsey, who heads the team at present and is portfolio manager for the funds, will assist Kemp on transitioning the portfolios before leaving the firm next February.

BlackRock’s chief executive officer Laurence Fink said recently that fundamental equity has been a disappointment over the last few months for the firm, according to Reuters.

‘Our performance issues are concentrated in a handful of teams, mostly in the United States,’ Fink said.

Kemp will report to Chris Leavy, who assumed responsibility for BlackRock’s large-cap portfolios from Robert Doll, the equity chief investment strategist who announced his departure from the firm earlier in the year.

Earlier in November, Kemp left UBS Asset Management where he managed the firm's US Growth fund.

He had delivered 36% on the fund over three years to 12 November, versus a 40.9% gain in the benchmark.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Sector Spotlight: Kleinwort Benson's Choukeir on UK equities

Sector Spotlight: Kleinwort Benson's Choukeir on UK equities

In our first Sector Spotlight of the year we explore UK equities on the back of the extreme market turbulence in 2016.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Your Business: Cover Star Club

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

In a buyers’ market for off-the-peg discretionary management, self-funded start-ups begin at an inherent disadvantage

Wealth Manager on Twitter