New thread in the loom
Loomis Sayles has a new face at the top. CEO Bob Blanding is leaving the top post in May after 20 years , but will retain the Chairman position. The firm’s President, Kevin Charleston, succeeds Blanding and also retains his duties as President. “This is the right time to transfer my day-to-day responsibilities as CEO,” said Blanding, who has been with Loomis since 1977. He became chairman and CEO in April 1995 when assets stood at $38 billion, overseeing a more than sixfold increase to $240 billion today. Charleston joined Loomis Sayles in 2000 as chief financial officer from Nvest, where he was a manager of financial operations. He was promoted to president last April.
In addition, David Waldman who has been Deputy CIO since April 2013, has assumed direct management responsibility for Loomis’s equity investment teams, credit research, macro research, and convertibles & special situations. His direct reports have been expanded to include all equity portfolio managers.