June 8, 2004 -- Former Merrill Lynch stock Picker David Poisez has joined Oppenheimer Funds as a portfolio manager and head of its growth equity investment team.
Poisez took over the Oppenheimer Growth/A (OPPSX) on June 1. He succeeded Alan Gilston, who had been managing the fund on an interim basis since last November. Gilston continues as a member of the growth investment team, which oversees more than $18 billion in assets.
At Merrill Lynch, Poisez ran the Merrill Lynch Global Technology Fund/C (MCGTX) from October 2002 through last month. The $547 million fund has been managed by Robert Zidar and Dominic Vignola since May 14, according to a regulatory filing. Information on the managers and their investment style was not immediately available.
Poisez, whose investment style "is not that far removed" from Gilston's, has no plans to change the way the Growth fund is run, said Oppenheimer spokesman Greg Stitt. A growth-oriented investor, Poisez looks for companies that are increasing sales and earnings, and improving margins, Stitt said.
Before joining Merrill Lynch's asset management arm, Merrill Lynch Investment Managers, Poisez was a partner with RiverRock Capital Management L.P., a technology-oriented investment firm he helped found.
Prior to that he was an executive vice president and portfolio manager with the Jennison Associates subsidiary of Prudential Financial (PRU), where he oversaw more than $8 billion in large cap stocks for institutions and individuals.
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