Richard Glass has joined Deutsche Asset & Wealth Management (DeAWM) as US head of small and mid cap value equities.
In addition, Richard J Hanlon and Mary C Schafer have joined the firm, reporting to Glass.
Glass, Hanlon and Schafer are based in New York. Glass reports to Owen Fitzpatrick, head of equities for the Americas. Effective in early September 2013, Glass will become the lead portfolio manager for DWS Small Cap Value Fund, DWS Mid Cap Value Fund and DWS Small Mid Cap Value VIP.
Jerry Miller, head of DeAWM Americas, says: “We are very pleased to welcome Rich and enhance our equities offering as we continue to build on our strengths in the US.”
Randy Brown, DeAWM’s co-chief investment officer, says: "Small and mid cap value equities are an important asset class for us and the market. Our clients will benefit from the expanded resources of the new small and mid cap value equities team."
Glass, who brings 22 years of US small cap and mid cap value investment experience to DeAWM, enhances the firm’s suite of equity investment products, adding small and mid cap value investing expertise to complement its existing strength in other strategies. Glass joins DeAWM after running his own asset management firm, Lockwell Investments, for three years. Before that, he served as the lead portfolio manager on approximately USD2.5bn in small and mid cap value retail and institutional investments for Morgan Stanley Investment Management.
Hanlon brings over 10 years of experience managing value equity products and has over 20 years of experience in portfolio management and equity research. Hanlon ran the asset management firm he founded, Glenville Capital Management, for the past six years. Prior to that, Hanlon was a partner and co-head of the equity group at Silvercrest Asset Management Group.
Schafer joins DeAWM from Glass’s firm, Lockwell Investments, where she was a principal and co-founder. Prior to that, she was an executive director at Morgan Stanley Investment Management. Schafer has over 15 years of experience in portfolio management and equity research.
Additionally, DeAWM recently hired several investment specialists to broaden its offering to clients in the Americas. In May, Susan Lucas joined as head of institutional sales in the US from Allianz Global Investors Capital. In June, Raphael Zagury joined from Bank of America Merrill Lynch as head of key client partners and wealth investment advisory for Latin America. Caroline Kitidis will join as head of key client partners and wealth investment advisory for the Americas from Goldman Sachs, effective 12 August 2013.
