Thursday, October 06, 2011
Three Lord Abbett PMs Rise to Partner
Reported by Neil Anderson, Managing Editor
Today is a good day for three Lord Abbett [see profile]
portfolio managers, one of its research directors and one of its lawyers. The
Jersey City, New Jersey-based mutual fund firm revealed its five newest
The new partners are: Stacia Ikpe
, client PM of institutional investment
services, who works with small cap core, smid cap value and micro cap value
strategies; Deepak Khanna
, PM for multi cap and large cap value
strategies; John McMillin
, associate director of domestic equity
research, who works with U.S. large and mid cap equities; Tom Phillips
deputy general counsel; and Steven Rocco
, PM of high-yield fixed income.
Lord Abbett works with about $100 billion in a variety of investment vehicles,
including, mutual funds.
JERSEY CITY, N.J., Oct. 6, 2011 -- Lord, Abbett & Co. LLC ("Lord Abbett"), an
independent, privately held investment management firm, today announced the
appointment of five new Partners. As one of the oldest money management firms
in the United States, Lord Abbett has been managing equity and fixed-income
products for more than 80 years, and currently manages more than $100 billion
(as of September 30, 2011) across a full range of mutual funds, institutional,
and individually managed accounts.
Over the last several years, the firm has taken a number of steps to
consistently deliver a quality investment experience, strategically broaden
distribution, properly manage and position the firm's products, and
thoughtfully evaluate the organization's business strategy. As part of this
ongoing effort, the firm is pleased to recognize several individuals for their
significant involvement and participation in advancing these objectives.
"We recognize these individuals for their contribution toward their respective
areas of expertise," said Daria L. Foster, Lord Abbett Managing Partner. "As
Partners, their leadership will help guide the strategic growth of the firm and
contribute toward our legacy as stewards of our clients' assets."
2011 Lord Abbett Partner Appointments:
-- Stacia Ikpe--Client Portfolio Manager, Institutional Investment
-- Deepak Khanna--Portfolio Manager, Investments
-- John McMillin--Associate Director of Domestic Equity Research,
-- Tom Phillips--Deputy General Counsel, Legal
-- Steven Rocco--Portfolio Manager, Investments
Stacia Ikpe joined Lord Abbett in 2006, and has more than 20 years of industry
experience. As a Client Portfolio Manager, Stacia supports Lord Abbett's small
cap core, smid cap value, and micro cap value investment strategies. Mike
Grant, Partner & Director of Institutional Investment Services Group, noted,
"During this difficult market environment, our clients and consultant partners
value client service more than ever. This is a great way to acknowledge
Stacia's accomplishments and future contributions to the firm."
Deepak Khanna, who has more than 15 years of industry experience, is a
Portfolio Manager for the firm's multi cap and large cap value strategies.
"Deepak has established a track record as both an insightful equity research
analyst and talented portfolio manager," said Robert P. Fetch, Partner &
Director of Domestic Equity Investments. "We are pleased to be able to
recognize his role in the future of the firm's domestic equity investment
John McMillin joined Lord Abbett in 2007 and has more than 30 years of industry
experience. As the Associate Director of Domestic Equity Research, John plays
a key role supporting the firm's U.S. large and mid cap equity research
efforts. "John's industry experience provides valuable insights and leadership
to the equity research team, which is especially important as we continue to
expand this growing area of the firm," said Rick Ruvkun, Partner & Director of
Tom Phillips joined Lord Abbett in 2006 and has played an integral role
providing legal support and guidance for the firm's distribution efforts during
an extremely difficult and increasingly complex regulatory environment. "Tom
has brought a thorough and disciplined approach to the complex legal landscape
surrounding the investment management industry," said Larry Kaplan, Partner &
General Counsel. "By recognizing Tom, the firm is acknowledging the importance
of the role he plays for our firm, our clients, and our business partners."
Steven Rocco joined the firm in 2004 and has more than 10 years of fixed-income
industry experience. He was recently named Portfolio Manager for Lord Abbett's
high-yield investment strategy. "Steven has been a valuable member of our
taxable fixed-income investment teams," said Robert I. Gerber, Partner & Chief
Investment Officer. "His role as Portfolio Manager has deepened our high-yield
strategy resources and solidified our ability to grow for the future."
"We are pleased to name these new Partners for their valuable contributions to
Lord Abbett," added Robert S. Dow, Lord Abbett Senior Partner. "As we have
often said, the firm's ownership structure reinforces our belief that remaining
independent is a strategic advantage that allows us to maintain our singular
focus on the management of money."
For more information on Lord Abbett, please visit www.lordabbett.com.
About Lord Abbett
Lord, Abbett & Co. LLC is an independent, privately held firm with a singular
focus on the management of money. As one of the oldest money management firms
in the United States, Lord Abbett has consistently provided generations of
clients and their financial advisors with a quality investment experience since
1929. Lord Abbett manages approximately $100 billion in assets (as of September
30, 2011) across a full range of mutual funds, institutional and separately
managed accounts, including $3.1 billion for which Lord Abbett provides
investment models to managed account sponsors.
The value of investments in equity securities will fluctuate in response to
general economic conditions and to changes in the prospects of particular
companies and/or sectors in the economy. The value of investments in fixed-
income securities will change as interest rates fluctuate. As interest rates
fall, the prices of debt securities tend to rise, and as interest rates rise,
the prices of debt securities tend to fall. No investing strategy can overcome
all market volatility or guarantee future results
Investors should carefully consider the investment objectives, risks, charges,
and expenses of the Lord Abbett Funds. This and other important information is
contained in a fund's summary prospectus and/or prospectus. To obtain a
prospectus or summary prospectus on any Lord Abbett mutual fund, contact your
investment professional or Lord Abbett Distributor LLC at 888-522-2388, or
visit us at www.lordabbett.com. Read the prospectus carefully before investing.
Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.
Shares of Lord Abbett mutual funds are not deposits or obligations of any bank,
are not guaranteed by any bank, and are not insured by the FDIC or any other
agency, and involve investment risks, including the possible loss of principal
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