BlackRock's Plackett to retire from fund management

BlackRock's Richard Plackett, former head of the UK Small and Mid Cap equities team and co-manager of the £1.4bn UK Special Situations fund, is to retire from fund management after 25 years, Investment Week can reveal.

The manager of the group's flagship £1.4bn UK Special Situations fund took a six-month sabbatical last year, but returned to his responsibilities last October. However, upon his return he decided to step back from his role as head of the UK Small and Mid Cap team, and relinquished control of his two investment trusts. BlackRock's Plackett to step down as UK Small and Mid Cap team head His role on the flagship fund will be taken over by Luke Chappell with immediate effect, who will co-manage the fund alongside existing co-manager Roland Arnold, who has been on the fund since 2012...