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Rating:BlackRock Axes 10 in its Investment Team Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, November 25, 2008

BlackRock Axes 10 in its Investment Team

by: Armie Margaret Lee

BlackRock cut 10 employees from its investment team, including four fund managers, according to published reports.

These include Linda Zhang, co-manager of BlackRock Asset Allocation; Jordan Schreiber, lead manager of BlackRock Healthcare; Jeff Gary, co-manager of BlackRock High Income and BlackRock High Yield Fund; and Tom Burke, manager of BlackRock Fundamental Growth and BlackRock Global Growth.

BlackRock also laid off six analysts.

According to Morningstar, which first reported the cuts, the remaining skippers on the Asset Allocation, Healthcare, High Income and High Yield Bond funds will assume the departed managers' former duties. BlackRock Capital Appreciation's Jeff Lindsey will run Fundamental Growth, while Tom Callan and Michael Carey of BlackRock Opportunities Fund will assume management of Global Growth. 

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