BlackRock is parting company with its team of Pacific Basin equity managers based in Edinburgh and passing the management of its $2.8 billion in assets over to Hong Kong, according to a person familiar with the situation.

Team leader Nigel Barry will continue to work at BlackRock until his Pacific Basin funds are transferred to the firm's Asian equities team, based in Hong Kong, subject to client agreement. One member of his team has already quit. When the fund transition is complete, Barry's two remaining team members will leave BlackRock to pursue other interests.