BlackRock's bond chief steps down as Bolton named CIO

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BlackRock has announced Peter Fisher is stepping down from his role as fixed income chief and that its head of European equity Nigel Bolton has been appointed CIO of its international fundamental equity team.

Both announcements came within hours of each other and see Peter Fisher take a step back from day-to-day management to join the firm's investment institute as a senior director.

Citywire A-rated Bolton, who co-manages the BGF European fund and the BGF European Focus fund with Zehrid Osmani and Amy Dey, is now the group's CIO of international fundamental equity within the alpha strategies group led globally by Quintin Price.

Bolton role

Following Bolton's appointment BlackRock said in a statement:

'Nigel’s expanded role will cover the EMEA and Asia Pacific regions, where he will work closely with his counterpart Chris Leavy, CIO of fundamental equity americas, to deliver investment excellence across fundamental equity.'

'He remains Head of the European equity team and retains his portfolio management responsibilities.'

Prior to joining BlackRock in 2008, Bolton was head of European equities at Scottish Widows Investment Partnership. He spent most of his career with Citigroup Global Asset Management, becoming managing director and head of European Equities in 1998.

Bond team

In expectation of Peter Fisher's role change, Quintin Price had been working closely with Fisher since assuming the role of lead of the alpha strategies group to carry out the restructuring of its fixed income team.

The firm has now made changes to its bond team with Rick Rieder and Kevin Holt being named co-heads of Americas fixed income.

Tim Webb will continue to run EMEA/Asia Pacific fixed income and will also remain the CIO of global alpha while Peter Hayes will continue to run tax-exempt fixed income.

All three managers will report to Price.