BlackRock's Doll finds new home at Nuveen

DEC 02, 2012
By  JKEPHART
The retirement of Bob Doll, former chief equity strategist at BlackRock Inc., turned out to be greatly exaggerated. Less than six months after announcing his retirement, the 34-year asset management industry veteran has signed on as the chief equity strategist at Nuveen Asset Management LLC. “I never said for sure I was retiring from the business,” Mr. Doll said last week in an interview. “I really missed the day-to-day of managing money and talking about markets more than I thought I would.” Mr. Doll also was named a senior portfolio manager at Nuveen. The firm will begin seeding U.S. large-cap mutual funds for him to manage in the next few months. Mr. Doll previously oversaw the U.S. large-cap-equity team at BlackRock and managed a trio of mutual funds. His departure from BlackRock came shortly after it was revealed that his proprietary quantitative methods actually were third-party models that he had tweaked and customized. “I've used third-party supply, but tailored them to be proprietary, all my career, and I will continue to do so,” Mr. Doll said. “I've had sort of the view of beg, borrow and steal whatever you can.” Quantitative strategies make up just half of Mr. Doll's investment process. He also relies on fundamental research. For Nuveen, which is known primarily for its municipal bond strategies, Mr. Doll's hiring marks the next step in its evolution as an asset manager, the firm's president, William Huffman, said. “We're strategically transforming to become a multiasset-class business.” Mr. Huffman said. It still has a long way to go. About $90 billion of Nuveen's $117 billion in assets are in its muni bond strategies. [email protected] Twitter: @jasonkephart

Latest News

Edward Jones announces C-suite shakeup with eye toward next chapter
Edward Jones announces C-suite shakeup with eye toward next chapter

The leadership changes coming in June, which also include wealth management and digital unit heads, come as the firm pushes to offer more comprehensive services.

Harvard muni bonds a buy amid battle with Trump White House, Barclays says
Harvard muni bonds a buy amid battle with Trump White House, Barclays says

Strategist sees relatively little risk of the university losing its tax-exempt status, which could pose opportunity for investors with a "longer time horizon."

The great wealth transfer demands a wealth management revolution
The great wealth transfer demands a wealth management revolution

As the next generation of investors take their turn, advisors have to strike a fine balance between embracing new technology and building human connections.

Independent Financial Group taps industry veteran Keefe as new president, COO
Independent Financial Group taps industry veteran Keefe as new president, COO

IFG works with 550 producing advisors and generates about $325 million in annual revenue, said Dave Fischer, the company's co-founder and chief marketing officer.

Net Positive Consortium gains momentum with new members, first strategic partner
Net Positive Consortium gains momentum with new members, first strategic partner

Five new RIAs are joining the industry coalition promoting firm-level impact across workforce, client, community and environmental goals.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.