Plackett who was head of the UK small/mid cap team within the fundamental equity division of BlackRock’s alpha strategies group and was well known as co-manager of the BlackRock UK Special Situations Fund, joined the firm in 2006 when BlackRock merged with Merrill Lynch Investment Managers where he had been working since 2002.
The move comes only a few months after Plackett returned from a six month sabbatical which he took from April to September 20014.
In a letter to clients, thanking Plackett for his contributions, the asset manager said Plackett would remain co-manager on the UK Special Situations Fund until 30 September 2015, but effective immediately, Plackett and co-manager Roland Arnold would be joined by Luke Chappell.
Plackett will assist with the transition of his responsibilities ahead of his departure from the firm at year-end BlackRock said.
Chappell who has 25 years of experience as a UK equity manager, and is co-head of BlackRock’s UK equity team along with James Macpherson since 2005, will primarily provide mid- and large-cap ideas to the fund, BlackRock said. Ideas it hopes will complement Arnold’s mid- and small-cap expertise.
“Roland and Luke will be supported by the broader UK Equity team. Of the 19 investment professionals on the team, 13 joined as graduates demonstrating the strength of our platform and highlighting the depth of talent and focus that BlackRock places on succession planning and career development,” the firm said.
According to data from FE Analytics, since the start of 2000, Placket has produced a cumulative performance of 556% compared to the 328% generated by a composite number for his peer group.
