Tony Stenning, chief executive of BlackRock Fund Managers in the UK and a retirement business leader at the firm, is to leave BlackRock after 16 years.
An internal memo to staff and seen by Funds Europe, says Alex Hoctor-Duncan, head of retail business in Europe, Middle East and Africa (Emea), will fill the role.
Stenning, who is also BlackRock’s head of retirement for Emea, is to resign from his post at the end of the year and take a “well-deserved” break in 2017 before deciding his next steps, said Hoctor-Duncan in the memo.
Stenning’s team manages £65 billion (€76.6 billion) in UK defined contribution assets.
He joined BlackRock’s product management group in 2000, becoming head of UK retail marketing the next year. In 2009, he became head of UK retail business at the firm, a role he held until 2015. Under his leadership, BlackRock’s share of the UK retail market climbed from 1% to 6.5%, according to the firm.
Stenning has represented BlackRock to a number of industry and regulatory bodies, including the Financial Conduct Authority, Association of British Insurers and Investment Association. He also served as chair of The Savings and Investment Policy project, a coalition of financial services firms formed to simplify savings and investments for UK consumers.
©2016 funds europe
