“While investing will always be a passion for me, I also want more time to devote to my family, faith and philanthropic interests,” Doll said, according to an internal memo. “Given the depth of the team we now have at BlackRock, I believe that I can step back and think about what I want to do next.” 

Doll has managed BlackRock's large cap fund series since 1999. In light of his retirement, the firm has appointed Chris Leavy, chief investment officer of fundamental equity , to manage the LCS portfolios, along with Peter Stournaras, who has co-managed the series since 2010. 

Leavy and Stournaras bring a “complementary mix of fundamental and quantitative expertise to the LCS portfolios,” and will focus on strengthening fund performance by leveraging expertise across both investment approaches, the firm said. 

In other moves, Joe Wolfe has been appointed as lead quantitative analyst on the LCS team. 

Wolfe, who is also head of the quantitative alpha research group, recently joined BlackRock from Northern Trust, where he worked with Leavy as head of quantitative research for global equity strategies.

Doll will assist with the portfolio transition until 30 June. When the transition is complete, he will serve the firm in an "advisory capacity" throughout the remainder of 2012.