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Wednesday, October 28, 2020

A $328B-AUM Boutique's CIO Heads Out

Reported by Lauren Corradi

A $328-billion-AUM, Boston-based boutique's chief investment officer is preparing to pass the reins next year.

Jae Park
Loomis, Sayles & Company
Executive Vice President, Chief Investment Officer, Board Member
After 19 years at Loomis Sayles, Jae Park, executive vice president, CIO, and member of the board of directors, will retire on March 31, 2021. David Waldman, executive vice president, deputy CIO at Loomis (which is part of Natixis) since 2013 and member of the board of directors, has been named as Park's successor.

"David is the ideal successor to Jae; they have been longtime partners responsible for overseeing Loomis Sayles' investment and research teams and David has been instrumental in building key components of the firm's investment infrastructure over the past 13 years," stated Kevin Charleston, chairman and CEO of Loomis Sayles. "David has dedicated his career to investment excellence and will continue to lead our ongoing efforts to refine our investment processes and promote rigor, repeatability and discipline. We are confident that David's continued leadership will carry Loomis Sayles into its next phase of global growth and success."

David L. Waldman
Loomis, Sayles & Company
Executive Vice President, Deputy Chief Investment Officer, Board Member
As CIO, Waldman will be responsible for all company investment, research, and trading teams, with the exception of the Growth Equity Strategies team (GES), which is led by Aziz Hamzaogullari, executive vice president and founder, CIO and portfolio manager of the Growth Equity Strategies team.

"Jae's vision for Loomis Sayles and the foundations he put in place have led to tremendous firm-wide growth, product expansion and a global reputation for investment excellence. During his tenure, assets under management have grown from $54 billion to our current all-time high of $328 billion," stated Charleston. "We are all grateful to Jae for his commitment and contributions to Loomis Sayles and our clients, and wish him the best in his next chapter."

Park joined Loomis Sayles in 2002 after serving at IBM for 21 years as director of fixed income investments for the firm's retirement fund.

A Stanford University graduate, Waldman joined the firm in 2007 as director of quantitative research and risk analysis. In 2013, he was promoted to deputy CIO, which was established to provide a succession plan for Park. Prior, he served at Putnam Investments for nearly 10 years as senior port manager, director of fixed income quantitative research. Before that, Waldman served at Lazard Asset Management for nearly two years as senior portfolio manager. Waldman also served at Goldman Sachs Asset Management for nearly eight years as portfolio manager.  

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