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3/21/16

Global Mining Observer does Evy Hambro of BlackRock

Main man Alex W over at GMO has put together a real warts-and-all profile of BlackRock head honcho, Evy Hambro, with plenty of comment from his present and former colleagues. Highly worthy of your reading time this morning, Mrs/Ms/Mr Mining Person. Here's an appetite-whetter from the note:
In 2010, the mining markets were flying. BlackRock, the world's largest fund manager, was the largest equity investor in the mining industry, with assets of $39bn. Its top mining fund manager, Graham Birch, had an impressive track record, but in January 2010, Birch retired, and at the age of 37, Evy Hambro took control.

Six years later, almost all mining stocks have fallen, but some of Hambro's biggest bets have gone badly wrong. On top of London Mining's collapse, high profile investments in Glencore, First Quantum, Freeport and Nat Rothschild's failed coal float, Bumi, have all tanked in spectacular fashion. “Anglo American's the only bullet he's missed,” one senior analyst says.