Noted investment strategist Ed Yardeni has jumped ship from Prudential to sign on with Oak Associates. The Akron, Ohio-based fund advisor hired Yardeni as its chief investment strategist, a new position. Yardeni held the same title at Prudential Equity Group, where he was also a managing director.
The hiring is a coup for Oak Associates in that it promises to raise the profile of the firm.
Yardeni's Web site
, which is a popular stop for those following the economy, informed visitors of his move Tuesday with a simple message: "Effective 9/7/04, Ed Yardeni is no longer with the Prudential Equity Group."
"I'm thrilled to be working with Jim Oelschlager [founder and CEO of Oak Associates] and the outstanding investment team at Oak Associates," said Yardeni Tuesday. "I've long been a big fan of Jim's and his core beliefs on growth investing. Over my career, I've worked primarily in investment strategist capacities at large, New York City-based sell-side firms, so joining Oak, a boutique manager based in Akron, is a great opportunity in investment management."
"I've known Ed for more than 20 years, and I've always paid a lot of attention to his work -- it's helped spark a number of investment ideas here," said Oelschlager. "Ed has a unique ability to grasp large volumes of economic data, boil them down to their essential elements, and present it all with clarity and precision. He will greatly expand our capabilities and help hone our investment process. Clearly, Ed is one of the most talented, dynamic and recognized thinkers on the economy and investment world, and we're delighted he's joined our team."
Before joining Prudential, Yardeni was chief investment strategist for Deutsche Bank and chief economist for C.J. Lawrence, Prudential Securities and E.F. Hutton. He also taught at Columbia University's Graduate School of Business, and was an economist with the Federal Reserve Bank of New York.
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