Bringing you live news and features since 2006 

Handshake 2

Waddell & Reed names Philip Sanders chief investment officer

RELATED TOPICS​

Waddell & Reed Financial has appointed Philip J. Sanders, a portfolio manager and equity analyst, as chief investment officer of Waddell & Reed Investment Management and Ivy Investment Management.

Sanders takes over the role from Michael L. Avery, who was appointed president of Waddell & Reed Financial in January.

Avery, to whom Sanders will report, has held the role of chief investment officer since 2005, and will remain active in all aspects of the company’s investment division. Avery retains his role as co-portfolio manager of Ivy Asset Strategy Fund and Waddell & Reed Advisors Asset Strategy Fund.

Sanders will maintain his portfolio management responsibilities, remaining directly involved in co-managing the company’s large cap growth product suite.

“Phil has a keen insight into our overall investment process, is an integral part of our daily investment team meetings, and brings significant experience to this role,” says Henry J. Herrmann, chairman and chief executive of Waddell & Reed Financial. “This step enables Mike to concentrate on his portfolio management responsibilities with the asset strategy funds and his expanding executive duties, while providing oversight to our investment management organisation. This is another move in support of the company’s longer term succession planning efforts.”

Sanders has 22 years of investment industry experience and 12 years with Waddell & Reed. He joined Waddell & Reed in 1998 as a vice president and portfolio manager. He has managed or co-managed, with Daniel Becker, the firm’s large cap growth product lineup for the last 12 years.
 

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by