BlackRock veteran Richard Plackett to retire from fund management

The manager of the group's flagship £1.4bn Special Situations fund took a six-month sabbatical last year, but returned to his responsibilities last October. However, upon his return he decided to step back from his role as head of the UK Small and Mid Cap team, and relinquished control of his two investment trusts. His role on the flagship fund will be taken over by Luke Chappell with immediate effect, who will co-manage the fund alongside existing co-manager Roland Arnold, who has been on the fund since 2012. In a letter to clients, the group said: "Richard Plackett has decided to...