Artisan Partners has hired a portfolio manager for its US value team ahead of the planned retirement of industry veteran George Sertl.
Sertl has been a portfolio manager for 25 years, of which 17 have been with Milwaukee-based Artisan.
The firm has hired Thomas Reynolds to replace Sertl on the value team and as a manager on both strategies.
Citywire A-rated Reynolds was previously a portfolio manager at value shop Perkins Investment Management, which is part of Janus Henderson.
He has 18 years of industry experience and four years as a portfolio manager, during which time he oversaw a small-cap value strategy and, more recently, an all-cap value strategy.
He joins Artisan managers Jim Kieffer and Daniel Kane on the value team. Kieffer is a managing director at Artisan, having been with the firm for 20 years and has run the Value fund since its inception in March 2006. Kane joined the firm in 2008, having previously been a small cap analyst at BB&T Asset Management.
Sertl will remain with the value team to ease the transition and then retire from the firm.
'Since George joined the firm in 2000, he has played a key role alongside Jim Kieffer in building the US value team’s franchise and delivering solid long-term results for clients and shareholders,' said Artisan chief executive and president Eric Colson.
'Given the cohesive, collaborative nature of the team, and with good continuity in decision-making in place, George is leaving the team in good stead. We thank George for his contributions and wish him well in the next phase of his life.'
Colson said the firm was exacting in evaluating new investment talent and backed Reynolds to be a good fit for the value team.
'Our process for evaluating new investment talent is very thorough, and we are extremely patient,' he said. 'As a high value-added investment manager, we want individuals who fit within our business model, with deeply passionate beliefs about their investment philosophy, and who possess investment perspectives that differ from consensus. Tom is a natural fit for us on all counts.'