Nuveen Investments said early Monday that it has hired Bob Doll (left), formerly of BlackRock (BLK), to serve as the chief equity strategist and senior portfolio manager of its asset-management operations.
Doll, who has roughly 35 years in the industry, managed a series of large-cap funds since they were started by Merrill Lynch (BAC) in ’99 and then moved to BlackRock in 2006, when the firm moved to acquire Merrill’s investment unit. Prior to Merrill, Doll was the chief investment officer of Oppenheimer Funds.
“We are very pleased to welcome Bob to the team. He brings considerable experience and leadership in the large-cap equities space to our multi-asset-class investment platform,” said Nuveen Asset Management President William Huffman, in a press release.
Chicago-based Nuveen Asset Management now has roughly $117 billion in assets under management. As of Sept. 30, about 36% of these assets were in equity portfolios, 41% in municipal portfolios, 12% in taxable fixed income, 7% in commodities and 4% in real estate.
Doll, known for his bullish market stance, plans to issue a weekly commentary and market report to advisors and others.
“More than ever, investors, both individual and institutional, urgently need calm, reasoned analysis and guidance–as well as smartly configured investment products–to chart and maintain the right path throughout the global markets,” said Doll, in a statement. “Nuveen Investments has long dedicated itself to delivering just this kind of seasoned, expert and valued support."
Nuveen–which is owned by the private-equity firm Madison Dearborn Partners, bought the First American fund family from U.S. Bancorp (USB), in 2010.
“Our team is excited to add Bob’s voice and expertise to the crafting and execution of our equity offerings,” explained David Chalupnik, head of equities for Nuveen, in a press release.
“For years, advisors have followed Bob’s views on the market with great interest as they seek to construct quality, long-term portfolios for their clients," he added. "We are pleased that we will be able to bring that expertise to the market and our clients.”
(Russ Koesterich replaced Doll as the CIO of BlackRock about a week ago.)