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Doll Retiring from Nuveen

Investment Management

Bob Doll, Nuveen’s Senior Portfolio Manager & Chief Equity Strategist, reportedly is set to retire from the firm this month, capping off a distinguished 42-year career. 

As first reported by Citywire, an internal Nuveen memo states: “Bob has had an incredible 42 years as a leading equities investor and thought leader whose insights have helped thousands of investors navigate through multiple market cycles and construct portfolios to meet their long-term goals, and he brought expertise to our portfolio management and client engagements. He is equally passionate about his family, philanthropy and faith, and he feels the time is right to move.”

The memo is further reported as saying, “While we will miss Bob, we fully support him in this decision.” 

One of the things Doll perhaps is best known for are his annual predictions. As he has for 30 years, Doll offers a set of annual 10 predictions forecasting key themes and risks that he believes are positioned to shape the economy and markets for the coming year. Interestingly, 2020 marked the first year in which he issued a second “revised” set of predictions, which he did in April of that year to reflect the short and long-term impact of the COVID-19 pandemic. Our post on his 2021 predictions is here

Doll has also been a frequent guest speaker at events sponsored by the American Retirement Association, including the NAPA 401(k) Summit.  

Doll currently manages seven portfolios, including large caps and alternatives. Prior to joining Nuveen in 2012, Doll held similar roles at other large asset management firms, including serving as chief equity strategist at Blackrock, president and chief investment officer of Merrill Lynch Investment Managers. Prior to joining MLIM, Doll served as chief investment officer of Oppenheimer Funds, Inc.

Scott Tonneson, portfolio manager and senior research analyst, will take over Doll’s portfolio manager responsibilities, according to the memo.

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