Federated Hermes has announced key changes within its fixed-income group, including the promotion of Kathryn (Katie) Glass, CFA, to co-head of the Domestic High Yield Group. Ms. Glass, an experienced portfolio manager with 27 years in investment, will share leadership responsibilities with Mark Durbiano, CFA, who has been with the firm for 42 years.
Additionally, Jeff Kozemchak, CFA, a senior portfolio manager specializing in municipal liquidity, ultrashort, and short-intermediate strategies, will retire on May 1, 2025, after 38 years of service. Federated Hermes plans to implement portfolio manager changes in anticipation of his departure to ensure a smooth transition.
These leadership adjustments affect significant portions of Federated Hermes' fixed-income business. The high-yield group manages approximately $13 billion in US high-yield fixed income strategies, while the municipal strategies group oversees about $23 billion in assets as of December 31, 2024. The firm emphasizes its deep bench of 28 investment professionals in municipal portfolio management to maintain strong, risk-adjusted results.
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