BlackRock confirmed to PLANSPONSOR that an internal memo to employees announced Fisher will leave his position to join the company’s market research group as senior director at the BlackRock Investment Institute.
“Peter’s move fulfills the desire he has had for some time to take on a role that allows him more freedom from day-to-day management and expand on his role working with investors and clients more broadly across the firm,” the memo said.
In this role, Fisher will work closely with the Institute’s Executive Director Lee Kempler and Chief Investment Strategist Ewen Cameron Watt. Fisher’s role will allow him to increase his focus on the significant investment challenges facing BlackRock’s clients and portfolio managers. It also permits him to continue as an ambassador for BlackRock and to participate in an even wider range of external financial industry, academic and regulatory activities, the memo said.
With Fisher leaving fixed income, Rick Rieder and Kevin Holt will become co-heads of Americas Fixed Income. Holt has been transitioning his portfolio responsibilities for several years and, having completed the transition of those responsibilities, will take on the business management responsibilities for Americas Fixed Income. Rieder, as chief investment officer for Fundamental Fixed Income, will devote his time to leading the investment side of the business and overseeing performance.In his new role, Fisher will continue working closely with Quintin Price, who was appointed last summer to lead the Alpha Strategies group, which includes Fixed Income as well as Fundamental Equity and Scientific Active Equity. Fisher will also work closely with the leaders of the different fixed-income groups.
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