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Deals & People June 5, 2012
BlackRock Chief Equity Strategist Doll to Retire
Robert Doll, BlackRock’s senior managing director and chief
equity strategist, is retiring at the end of June, according to multiple news
and wire reports.
Reported by Jay Polansky
After leaving the firm, Doll will serve as an adviser until the end of the year.
Before working at BlackRock, Doll was the chief investment officer of Oppenheimer Funds Inc. He went on to become president and CIO, senior portfolio manager and team leader at MLIM. He joined BlackRock in 1999 when he began managing the Merrill Lynch Large Cap Series.
Doll, who has been in the asset management industry for more than three decades, is known for his annual market predictions. Last year at the PLANADVISER National Conference, Doll predicted “growth below trend” and pegged the probability of the U.S. going into a recession at 30%, compared with a normal probability of 15%. (See “Doll Says Economy’s Vital Signs Are Good.”)
“I’ve decided that now is the right time for me to shift my priorities and move to the next chapter of my life,” Doll said in an internal memo sent to employees Monday.
Doll holds bachelor’s of science degrees in accounting and economics from Lehigh University, and a master’s in business administration from the University of Pennsylvania.