Stefan Gries, head of European equities at BlackRock, has left the group and ended his fund management career to “focus on personal health issues”, according to BlackRock Greater Europe (BRGE).

Gries had managed the £475m investment trust since June 2017 but had seen its performance wane after the 2022 growth crash.

He is replaced by Benjamin Moore, who joined BlackRock in January from Columbia Threadneedle where he ran the CT European fund. Brian Hall remains co-manager having joined Gries in November to provide some “value” stock picking skills alongside Gries’ growth focus.

Gries joined BlackRock in 2008 from Scottish Widows. He was responsible for around £5.7bn in assets as co-manager of BlackRock European Absolute Return, a long/short fund, as well as its Pan European and Europe ex-UK long-only portfolios

BRGE chair Andrew Impey said: “At this time the board’s thoughts are with Stefan and it wishes him well for the future and for his recovery.  The board has conviction in the quality and breadth of resource provided by BlackRock’s European Fundamental Equity team, and is pleased to welcome a portfolio manager of Benjamin’s calibre as Stefan’s replacement. Benjamin will employ a similar style to Stefan, and has a proven track record of managing quality portfolios.”

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