TCW Group promoted a new cohort of leaders as the $210 billion asset manager embarks on an expansion in alternatives under Chief Executive Officer Katie Koch.
(Bloomberg) — TCW Group promoted a new cohort of leaders as the $210 billion asset manager embarks on an expansion in alternatives under Chief Executive Officer Katie Koch.
The firm is seeking to build on its roots as a public fixed-income manager and broaden its offerings in alternative credit, including private credit, collateralized loan obligations and private securitized credit.
“The next decade of fixed income is going to look really different from the last couple of decades,” Koch, 43, said in an interview Tuesday. “There’s more going private in the fixed-income space.”
Laird Landmann, a generalist portfolio manager and co-directer of fixed income, will retire at year-end after almost four decades at the Los Angeles-based firm, according to a letter sent to clients.
Steve Kane, co-chief investment officer and also a generalist portfolio manager, as well as co-director of fixed income, will remain with the firm until at least the end of 2024. He’ll serve as co-CIO and co-director for fixed income until year-end and will then be a generalist until he retires, the letter said.
Jerry Cudzil and Ruben Hovhannisyan were promoted to generalist portfolio managers alongside Bryan Whalen, helping to oversee more than $180 billion of fixed-income assets. Peter Van Gelderen was hired as co-head of the securitized group alongside Liza Crawford, the firm said in a statement Monday.
Koch took over as CEO this year after a 20-year career at Goldman Sachs Group Inc.
Brian Gelfand was named co-head of global credit and head of credit trading, assuming Cudzil’s former role, according to the letter. Steve Purdy becomes co-portfolio manager of the unconstrained bond fund, which makes distressed investments.
The Wall Street Journal reported some of the promotions earlier.
The firm is also focused on reinvigorating its existing investment platforms with new fund structures, as well as expanding its presence outside of the US, Koch said. TCW recently struck a deal with activist investor Engine No. 1. to acquire its exchange-traded funds unit, Koch’s first deal as CEO.
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