A $30-billion shop in Pennsylvania just picked a new chief for its $11-billion arm that includes its mutual fund business. That new chief is on the lookout for strategic plays for his shop.

Gordon Fowler, CEO and chief investment officer of Philadelphia-based Glenmede Trust Company, confirms the promotion of Peter Zuleba to president of Glenmede Investment Management [profile].

An 11-year Glenmede veteran, Zuleba previously jointly led GIM alongside Fowler himself and Sally Wirtz. Wirtz will continue to serve as chief administrative officer of the sales, servicing and fund administration division of GIM.

Looking forward, Zuleba sees the liquid alternatives space in particular as an area with opportunity for GIM to expand in. He confirms that GIM would even be open to doing acquisitions, liftouts, or subadvisory deals.

"We haven't explored that to the same degree before," Zuleba tells MFWire. "We're not averse to considering any of those options."

GIM's core strategy historically has been its small-cap offering, which has about $3 billion of its $5.3 billion in AUM for outside clients (mostly via mutual funds). Yet they also had options-based strategies, other equity strategies, and liquid alts strategies. But Zuleba's not in a product-development rush.

"We still have a long runway with the current lineup that we have today," Zuleba says.

Glenmede, which also offers its own active institutional strategies directly to private clients, first launched GIM in 2007. Glenmede overall now has $30 billion in investable AUM.

Zuleba has served as a PM, director of fundamental research, and head equity at Glenmede. He most recently served as director of investment management. He's an alumnus of the University of Miami and the University of Delaware, and he spent more than 15 years at J.P. Morgan before joining Glenmede. 

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