Pittsburgh-based Federated Hermes, an active investment management group, recently announced changes to its leadership team.
Robert Ostrowski, executive vice president and chief investment officer (CIO) for global fixed income, will be retiring on May 1 after 38 years with the company. Ostrowski became CIO in April 2004, and under his leadership the company’s fixed-income assets under management increased from $29.5 billion to $101.8 billion.
The company has named R.J. Gallo, senior vice president, deputy CIO for global fixed income and Municipal Bond Group co-head, as the next global fixed income CIO. In his new role, he
will oversee all aspects of the investment processes across fixed income products globally, will be responsible for developing investment teams, and will oversee portfolios and risk management.
Ann Ferentino, senior portfolio manager and Municipal Bond Group co-head, will become the group’s sole leader. She will assume full oversight for municipal managed assets and will continue to manage seven mutual funds and other client portfolios.
The global fixed-income team includes 107 people while the municipal fixed-income team includes nine people.
Federated Hermes employs more than 2,000 people in offices worldwide including London, New York and Boston. As of Sept. 30, the company had $871.2 billion in assets under management.