Standard & Poor’s has placed the BlackRock Emerging Markets fund under review following the departure of portfolio manager Daniel Tubbs.
Tubbs, who was co-head of the global emerging markets team with Dhiren Shah, is understood to have left to “pursue other opportunities”.
The news has seen Luiz Soares join BlackRock as a managing director to lead its fundamental equity markets team and named as co-manager with Shah on the Emerging Markets fund.
Soares will report to Chris Leavy, chief investment officer of fundamental equity for the Americas.
Leavy says: “Emerging markets offer attractive growth opportunities and are a key focus area for BlackRock because of our clients’ needs and investment focus. (article continues below)
“Luiz will play a major role in further building out our emerging markets capabilities and positioning BlackRock to drive this opportunity forward.”
Soares will work with Sam Vecht, head of the emerging Europe, Middle East and Africa equity team, Andrew Swan, head of the Asian equity team based in Hong Kong, and Will Landers, head of the Latin America equity team.