Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. 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 Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Play Dangerous daisy chains, Black Friday blues and Uber valuations

Dangerous daisy chains, Black Friday blues and Uber valuations

This week’s Investment Pulse looks at the domino effect in European banks, America’s disappointing Black Friday and how much Uber is really worth.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter