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 Liontrust ESG head says sustainable investment doesn't mean low return

Liontrust ESG head says sustainable investment doesn't mean low return

Peter Michaelis talks about ethical investment growth and where he sees future opportunites.

Play Are platforms the biggest barrier to wealth manager ETF take-up?

Are platforms the biggest barrier to wealth manager ETF take-up?

Citywire hosted a roundtable discussion to find out how and if wealth managers are using ETFs in their clients' portfolios and the challenges they face trading through different platforms.

Play SVM's Veitch on what's next for banks

SVM's Veitch on what's next for banks

SVM fund manager Neil Veitch is finding value in what he describes as unstable financials and talks through his favourite small caps.

Read More
Your Business: Cover Star Club

Profile: UBS' robo boss on what his tween can teach the industry

Profile: UBS' robo boss on what his tween can teach the industry

Co-head of UBS SmartWealth Shane Williams explains the simple life lessons missed by the first wave of robo pioneers

Wealth Manager on Twitter