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.

Value veteran joins BlackRock’s equity income team

Value veteran joins BlackRock’s equity income team

BlackRock has hired Tony DeSpirito as co-head of its equity dividend team.

DeSpirito previously spent 18 years at value specialist Pzena Investment Management as portfolio manager, managing principal and a member of the firm’s executive committee.

He ran the Vanguard US Fundamental Value fund, which has returned 41.2% over the past three years compared with an average of 40% from the North America Equity sector.

At BlackRock DeSpirito will be a managing director and will co-manage the group’s equity dividend team with Bob Shearer, which oversees £29 billion of assets in total.

DeSpirito has additionally been named co-manager of the £112 million BlackRock North American Income trust alongside Shearer and Kathleen Anderson.

‘DeSpirito’s appointment reflects BlackRock’s commitment to investment excellence and to investing in its portfolio management teams,’ said a company spokesperson.

‘The depth and breadth of his experience will be an asset to BlackRock’s investors and to the team.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Antonio DeSpirito
Antonio DeSpirito
9/26 in Equity - North American Income (Performance over 1 year) Average Total Return: 3.12%
Bob Shearer
Bob Shearer
10/12 in Equity - North American Income (Performance over 3 years) Average Total Return: 44.24%
Kathleen Anderson
Kathleen Anderson
9/12 in Equity - North American Income (Performance over 3 years) Average Total Return: 44.24%
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 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.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

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