Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Play Japan's slump, the umbrella revolution and the battle for Brazil

Japan's slump, the umbrella revolution and the battle for Brazil

With the arrows of Abenomics appearing to be missing their targets and political uncertainty rife in Hong Kong and Brazil we take a look at investor sentiment in this week's Investment Pulse

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter