Citywire AAA-rated Manning & Napier veteran Jeffrey M. Tyburski has resigned from the firm, Citywire can reveal.
As a result of his departure, Alex Gurevich has replaced Tyburski on the $116.6 million Manning & Napier Disciplined Value series, which is now co-managed by Gurevich, Citywire + rated Christopher F. Petrosino and Citywire AAA-rated Richard J. Schermeyer.
Launched in November 2008, the fund has returned 53.1% over the past three years until the end of January and ranks 21 out of all 191 Large-Cap Core Funds tracked by Citywire.
Tyburski, who ranks 13 out of all 209 North America Equities Large Cap Core managers tracked by Citywire, landed his first AAA rating along with co-manager Schermeyer in February this year.
On a total return basis, for three-year, risk-adjusted returns to the end of December 2017, Schermeyer and Tyburski were up 41.3% compared with the average Large Cap Core manager, who was up 30.7%, and Vanguard Russell 1000 Value Index ETF’s 27.7%.
Tyburski joined Manning & Napier in 1999 and has worked for the firm in different capacities during his 19-year tenure. Prior to becoming a portfolio manager, he served as a senior analyst working in the firm’s quantitative strategies group. He also supported Manning & Napier’s Disciplined Value and Global Quality products and acted as a liaison between the research and sales departments by providing sales support.
In addition, he also ran the Manning & Napier University, which hosts the junior member training curriculum.
Prior to joining the Manning & Napier, Tyburski worked as an engineer for 13 years, initially as a project engineer for General Electric, and then as a field engineer for Nalco Chemical Company.
Gurevich joined the firm in 2007 and is a junior analyst in the quantitative strategies group and a member of the management team responsible for the group’s managed ETF portfolios.
A Manning & Napier spokeswoman confirmed Tyburski’s departure and the addition of Gurevich to the Disciplined Value series portfolio management team but declined to comment further.
On a separate note, Manning & Napier has recently appointed executive vice president Charles Stamey, president Jeffrey Coons and board member Richard Goldberg as co-chief executives in the office of the CEO.
The three co-chief executives will report to the firm’s board of directors, which is actively searching for a permanent chief executive for the firm from both internal and external candidates.
Fairport, New York-based Manning & Napier had $23.8 billion in assets under management as of February 28.