Bob Doll, the senior portfolio manager and chief equity analyst at Nuveen who is known for his popular annual predictions, announced internally Tuesday morning his retirement.
Doll, 66, who has worked in investment management for 42 years, is expected to officially depart Nuveen at the of March. A company spokesperson confirmed the departure and would not make him available for comment.
The chief equity analyst managed $2.5 billion across several large-cap strategies, which the company said are being taken over by “several of his longest-tenured, most experienced colleagues.”
Doll’s portfolio management responsibilities are being assumed by Scott Tonneson, portfolio manager and senior research analyst, who has worked alongside Bob as co-portfolio manager on the strategies he manages since joining the firm in 2012.
In addition, David Chalupnik, head of U.S. Active Equities Portfolio Management, and David Park, portfolio manager, will be named portfolio managers on the Nuveen Large Cap Core fund and Concentrated Core, Stable Growth & Stable Growth Balanced separately managed accounts. Chalupnik will also be named portfolio manager alongside Tonneson on Nuveen Equity Long/Short and Nuveen Equity Market Neutral funds as well as associated separately managed accounts.
“We are fortunate to have a deep bench of talent to manage through inevitable change such as the departure of a veteran colleague and are excited about the future of Nuveen’s equities platform, where we now manage more than $415B invested across styles, market caps and geography.” the memo reads in part.
A link to Doll’s bio on Nuveen’s website list “page not found.”
“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 to the next phase of his life. While we will miss Bob, we fully support him in this decision,” the internal memo reads in part.
Todd Rosenbluth, director of mutual fund and ETF research at CFRA, credited Doll’s experience and annual predictions as “helping to shape the discussion.”
“While Bob was named portfolio manager for a relatively small amount of assets, his impact to the investment community has been much broader,” he added.
Prior to joining Nuveen, Doll held similar roles at other large asset management firms, including serving as chief equity strategist at BlackRock, president and chief investment officer at Merrill Lynch Investment Managers, and chief investment officer at Oppenheimer Funds.
Bob graduated with a B.S. in accounting and a B.A. in economics from Lehigh University and an M.B.A. from the Wharton School of the University of Pennsylvania. He is a Certified Public Accountant and holds the CFA designation from the CFA Institute.
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