(CityWire) Bob Doll, a veteran portfolio manager and chief equity strategist at Nuveen, is hanging up his hat.
Doll will retire from the firm this month, ending a 42-year investment career. Before joining Nuveen in 2012, Doll worked at BlackRock, first as chief equity strategist for fundamental equities, and then as a senior advisor.
A Nuveen memo reportedly reads: ‘Bob has had an incredible 42 years as a leading equities investor and thought leader whose insights have helped thousands of investors navigate through multiple market cycles and construct portfolios to meet their long-term goals, and he brought expertise to our portfolio management and client engagements. He is equally passionate about his family, philanthropy and faith, and he feels the time is right to move.’
‘While we will miss Bob, we fully support him in this decision,’ the memo added.
Scott says: perhaps strangely, Doll isn't mentioned in a March 11 "all hands" client message from Nuveen CEO Jose Minaya reaffirming the fund complex's value proposition and post-COVID vision. Given the emphasis on "transparency," this decision may have come suddenly. I got to go to a few of Bob's Merrill outlook rollouts (still have the books somewhere) and wish him all the best in whatever he tackles next.
According to the memo, Scott Tonneson, portfolio manager and senior research analyst, will take over Doll’s portfolio manager responsibilities.
Doll and Tonneson are both currently listed on the $79.1m Nuveen Equity Market Neutral fund, the $455.2m Nuveen Large Cap Core fund, and the $137.2m Nuveen Equity Long/Short fund.
David Chalupnik, head of US active equities portfolio management, and David Park will be added to the Large Cap Core fund, as well as the Concentrated Core, Stable Growth, and Stable Growth Balanced SMAs.
Chalupnik will also be added to the Equity Long/Short and Equity Market Neutral funds, as well as associated separately managed accounts.
He joined Nuveen in 2012 after a six-year stint at BlackRock, Reuters reported. He joined BlackRock in 2006 as part of the acquisition of Merrill Lynch’s fund unit.
For 30 years, Doll published 10 annual predictions forecasting themes driving equity markets, monetary policy, and the global economy. Read his 2021 predictions here.
