Feb. 20, 2003 — BlackRock Inc`A` (BLK), a major manager of fixed-income investments, has hired a team of stock pickers from Weiss, Peck & Greer who use computer models to buy and sell large-cap U.S. stocks.
BlackRock’s new quantitative equity group is led by David Byrket and Frederick Herrmann. The group’s other members are Andrew Jones, Tim Rezvan and Guy Lakonishok. The five previously managed quantitative stock portfolios for institutions and individuals at Weiss, Peck & Greer.
New York-based BlackRock was managing $273 billion at the end of last year, 64% of which was in fixed-income portfolios.
In connection with BlackRock’s move, Weiss, Peck & Greer has appointed George Boyd, III, the firm’s head of equity investments, and E.K. Easton Ragsdale, a portfolio manager, to oversee WPG Funds Trust:Quantitative Equity Fund (WPGQX), which had been run by Byrket and Herrmann.