Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of 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
22/69 in Equity - North America (Performance over 3 years) Average Total Return: 66.58%
Bob Shearer
Bob Shearer
32/120 in Equity - North America (Performance over 1 year) Average Total Return: 17.48%
Kathleen Anderson
Kathleen Anderson
31/120 in Equity - North America (Performance over 1 year) Average Total Return: 17.48%
Citywire TV
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter