Every good orchestra needs a conductor, a maestro to make sure that the bassoons don't drown out the flutes and that the violins don't go all pizzicato.
In the case of Victory Capital Management
, the Cleveland-based multi-boutique has hired Callan-alum Kelly Cliff
as president for investment franchises.
Cliff previously had served as chief investment officer of public markets as well as co-lead of the Global Manager Research Group for Callan Associates
. Before that, he had seved as CIO for Callan's Trust Advisor Group.
Victory's president and director Christopher Ohmacht
recently told MFWire
that Cliff will handle three major roles for the firm.
Firstly, Ohmacht said, Cliff will serve as a "partner with our investment franchises, a strategic resource to make sure they are utilizing the best practices in terms of alpha and risk management."
Victory has seven investment franchises, Ohmacht said, and each of them "manage money in their own distinctive manner. They are independent. They are autonomous. They really control all of their investment decision-making processes."
The firm, Ohmacht said, aims "to provide these franchises with the environment and resources to be successful," including centralized infrastructure support in relation to operations, risk management, compliance and distribution.
Cliff's second major responsibility will be to serve as coordinator with the franchises in all these centralized functions, "work with the leaders of these groups to ensure that we have best-in-class."
Lastly, Ohmacht said that Cliff "will provide valuable client insight in terms of ensuring that these capabilities are aligned with client needs now and in the future."
"Kelly is a very well respected industry veteran. He has analyzed countless companies, multiple asset classes and importantly for us, all of this was done through the lens of the client," Ohmacht said.
Cliff's coordinative duties would apply to "existing investment franchises as well as any future franchises that could be part of Victory in the future," Ohmacht said.
It's been a busy year-and-a-half for Victory, which bought its freedom from former parent KeyCorp. in February 2013
, with backing from the private equity firm Crestview Partners
. The $246 million deal was closed in August 2013
In April 2014, Victory then acquired Munder Capital, and its affiliate Integrity Asset Management
. The deal is expected to close in the fourth quarter.
As Victory works to integrate Munder and Integrity within its family, Ohmacht said that the firm will also gradually bolster its sales team.
"We will certainly look to add talent to the distribution teams, particular the intermediary and retirement teams. We will look to add good talent when we can," he said.
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