BlackRock has reshuffled the management team on the $41.7 billion BlackRock Global Allocation fund.
The firm has added three new managers to the fund. These are Russ Koesterich, David Clayton and Kent Hogshire.
Romualdo Roldan, who had been a named manager on the fund since 2006, will no longer be listed as a portfolio manager, according to a Security and Exchange Commission filing.
A BlackRock spokeswoman told Citywire that Roldan will stay on the fund’s team as a senior investor, and will help with research and investment analysis.
All the changes will be effective January 1 2017.
Koesterich has been with BlackRock since 2005. He is currently head of asset allocation and before that was chief strategist for the firm’s model portfolio business.
He previously worked at Barclays Global Investors, which was acquired by BlackRock in 2009.
Clayton has been with Blackrock since 2010 as a senior analyst within the global allocation team. Prior to BlackRock, he was a managing director at the Blackstone Group.
Hogshire has been with the firm since 2000, having previously worked at Merrill Lynch Investment Managers which merged with BlackRock in 2006. He is a senior analyst, responsible for global macro and thematic strategy, including coverage of the industrials and transportation sector.