Bloomberg reports that Knapp, 52, who was head of U.S. equity portfolio strategy for the bank, will join the money manager later this year to lead and build the thematic strategies team, according to a memo sent to employees today by BlackRock.
The group will focus on major structural themes, identify investing opportunities and figure out ways to capture them, according to the memo.
'Having somebody with his experience in this type of environment where rates are expected to be on the rise certainly doesn’t hurt', Robert Pavlik, chief market strategist at Banyan Partners, which manages $4.5bn, said in an interview. 'He brings a line of thinking that can certainly fit in, and he might also bring in a different perspective'.
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