BlackRock made the announcement internally yesterday, according to Pensions & Investments.

Mr Doll will continue to manage BlackRock's US Large-Cap Series portfolios, and lead the “internal investment debate” within the fundamental equities division, according to the announcement.

The new head of BlackRock’s fundamental equities business, which has $210 billion in assets, will be Quintin Price, chief investment officer for Europe, the Middle East and Africa. Mr Price will oversee portfolio management, trading and management of the investment staff, and set the division’s business priorities and strategic direction.

In a nod to the accelerated volume of global trading, Paul Walker-Duncalf was named head of fundamental equity trading, a new position with global responsibility. Mr Walker-Duncalf will retain his responsibilities as head of international fundamental equity trading.

Earlier this month, Kendrick Wilson, a former US Treasury official and well-known investment banker joined BlackRock as vice chairman, with broad responsibilities to help the firm manage $3.3 trillion of client assets.