BlackRock’s deputy head of emerging market Christopher Kelly has left the group three years after joining from BNP Paribas, Citywire Global has learned.
The emerging market credit specialist formally stepped down from managing funds at the end of December 2014.
Kelly was one of seven managers who left BNP Paribas IP for BlackRock in April 2012 along with head of emerging market debt, Sergio Trigo Paz.
He stepped down from the first two funds in July 2012 and April 2014, respectively. He relinquished his role on the $110 million BGF Emerging Market Corporate Bond fund last month.
Kelly had worked on this Luxembourg-domiciled strategy since its launch in February 2013. His former co-managers Trigo Paz and Jane Yu remain on the fund.
In a statement to Citywire Global, a spokesperson for BlackRock said: ‘Chris Kelly, a portfolio manager within the emerging markets debt team, has resigned to accept an opportunity outside the firm.’
‘His portfolio management responsibilities will be assumed by other members of the emerging markets debt team, led by Sergio Trigo Paz.’
The BGF Emerging Markets Corporate Bond A2 USD fund returned 0.3% in US dollar terms between February 2013 and December 2014. The fund’s benchmark, the Cust Index JPM CEMBI, rose 1% over the same 22-month period.