BlackRock's Plackett to step down as UK Small and Mid Cap team head

Richard Plackett is to step back from his role as head of BlackRock's UK Small and Mid Cap equity team and will relinquish control of his two investment trusts when he returns from sabbatical.

The manager (pictured) returns from a six month break on 7 October. He will resume his role as co-manager of the £1.6bn Special Situations fund but will not resume his position as head of his team. Ralph Cox, who has run the team in Plackett's absence, will now take over on a permanent basis. "Richard has a long and distinguished track record and we look forward to welcoming him back," BlackRock said in a note to clients this morning. "Following discussion with Richard, he has expressed his desire to concentrate on stock picking and portfolio management." Plackett is also relinq...