BlackRock’s UK small and mid cap desk head Ralph Cox has resigned from the group after 15 years.
The manager took on the head of team role in April last year when Richard Plackett took a sabbatical but held on to the position when Mr Plackett stated on his return he wanted to focus on his UK Special Situations fund.
Now Mike Prentis, who joined BlackRock 10 years ago, will take on the lead in the UK small and mid cap team.
“After fifteen successful years with BlackRock, Ralph Cox has decided to take a substantial career break and leave the firm,” BlackRock said.
“He has indicated he wishes to consider an alternative career, possibly outside of the industry.”
The group added it wanted to “thank Ralph for all his hard work and for the excellent performance he has helped generate for our clients”.
Mr Cox has also had responsibility for the contracts for difference (CFD) portfolio, a set of derivatives, on the Throgmorton investment trust but this will now be taken on by Dan Whitestone, supported by Richard Plackett, Roland Arnold and Lucy Marmion. The CFD portfolio accounts for 32 per cent of the trust’s assets.
Mr Prentis remains manager of the trust’s long only portfolio.
Elsewhere, the BlackRock UK Smaller Companies fund will be co-managed by Mr Arnold and Ms Marmion.