BlackRock’s London-based global equity head has quit after less than two years with the firm.
Gary Clarke, who was also co-head of the global equity platform, joined BlackRock in August 2014 from JP Morgan Asset Management.
His responsibilities included managing the firm’s Global Focus and Global Core & Unconstrained strategies, as well as co-managing the global equity platform and heading up the London-based global equity team.
Clarke, who was responsible for overseeing $31 billion in assets under management, will see his former colleagues assume his responsibilities. Stuart Reeve, manager of BlackRock's global dividend and long horizon equity portfolios, has subsequently been appointed head of global equity in London.
Meanwhile Tom Callan, who is also head of the global opportunities team, steps up to lead BlackRock’s global equity platform and will take over management of the Global Focus and Global Core & Unconstrained funds.
A firm spokesperson said: ‘Gary has informed us of his intention to leave the firm. We thank Gary for his contribution to the firm and wish Tom and Stuart every success in their expanded roles.’
It is understood Clarke has left the fund management industry to launch a firm investing in start-up and early stage UK and European businesses.
During his tenure with JP Morgan, Clarke spent four years as head of global retail and thematic investing. Prior to this he was head of European equities at Schroders following fund management roles with Gartmore, Rothschild and Prudential.
Callan has been with the firm since 1998, joining initially as a healthcare analyst following the acquisition of PNC Asset Management. Reeve also joined as part of an acquisition in 2005 as a food, beverage and tobacco specialist in the integration of Merrill Lynch Investment Managers.