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Rating:40 Years In, a CIO Starts Waving Goodbye Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 11, 2020

40 Years In, a CIO Starts Waving Goodbye

Reported by Lauren Corradi

A value chief is preparing to say goodbye ... in more than a year and a half.

Chris Beck, chief investment officer for Macquarie Investments Management's U.S. small-mid cap value equity Team, is planning to retire from the Philadelphia-based asset manager on July 31, 2022. Kelley McKee Carabasi and Kent Madden, senior portfolio managers on Beck's team, will succeed him as co-CIOs of the team, completing the transition by the end of 2021.

The Macquarie IM U.S. small-mid cap value equity team oversees approximately $7.6 billion in assets for clients globally.

After nearly 25 years with the firm, Beck will remain an active member of the team through his retirement date, working with Carabasi and Madden in order to achieve a smooth transition.

"Chris is an exceptional investor, who has built a flagship value offering for the firm and a talented team that has consistently outperformed for our clients," stated John Leonard, head of global equities for Macquarie Investment Management. "The transition to Kent and Kelley as co-CIOs is a natural evolution for the team, and we wish Chris all the best in his next phase."

"John and I have complete confidence in Kent and Kelley's leadership and continued collaborative and disciplined approach to investing," stated Beck. "We are well positioned for a seamless transition, given the lead time and depth of our team."

A Lehigh University College of Business and University of Delaware graduate, Beck has served at Macquarie Group for nearly 24 years in a variety of capacities; including executive director of the Macquarie Group; chief investment officer, small and mid-Cap value team; and senior vice president. Prior, he served at Pitcairn Financial Group for two years as senior portfolio manager.

Carabasi joined Macquarie IM (then called Delaware Investments) in 2005 as an equity analyst, and she has served as a senior PM on Beck's team since 2012. Earlier on she worked on Lincoln Financial Group (the old parent of Delaware Investments). She is an alumna of the Wharton School at the University of Pennsylvania and Georgetown University.

Madden joined the team in 2004, also starting as an equity analyst. Like Carabasi, Madden has served as a senior PM on the team since 2012. Earlier on, he held analyst roles at Gartmore, Federated, and Lehman Brothers. He is an alumnus of the University of Chicago and DePauw University. 

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