Loomis Sayles has promoted two portfolio managers on a $29.6 billion team as 21-year veteran manager Kenneth Buntrock prepares to retire in March 2019.
Citywire + rated Lynda Schweitzer and Scott Service have joined Citywire + rated David Rolley as co-team leaders for the global fixed income team, which oversees approximately $29.6 billion in institutional and retail assets.
According to the firm, there will be no changes to the team’s style or investment philosophy and the three managers will continue to report to Jae Park, chief investment officer of the firm.
Citywire + rated Buntrock, who has spent 21 years with Loomis Sayles, has been co-managing the $978.6 million Loomis Sayles Global Bond fund with Rolley since 2000. He is also named on a number of global bond ucits funds.
With 44 years of investment industry experience, Buntrock started his career as assistant foreign exchange manager and later, chief foreign exchange dealer for Mellon Bank, known today as Bank of New York Mellon after a merger in 2007. He then held various senior positions at Mellon Bank before joining Loomis Sayles as a currency specialist and portfolio manager in 1997.
The firm said the succession planning for Bunrock’s retirement was initiated in 2007 when Schweitzer was named portfolio manager on the Loomis Sayles Global Bond fund following her six-year tenure as a global portfolio specialist and trader for the team.
Prior to joining the firm in 2001 as a global portfolio specialist and trader, Schweitzer worked at Putnam Investments as a global bond trader for both developed and emerging markets.
Service, who joined the team in 2004, became portfolio manager on a variety of global credit strategies in 2011 and was named portfolio manager on the Loomis Sayles Global Bond fund in 2014.
He joined the firm in 1995 and spent two years in Paris working for Loomis Sayles’ parent company, Natixis Investment Managers, between 2001 and 2003.
‘We are grateful to Ken for more than 20 years of service and leadership at Loomis Sayles,’ said Kevin Charleston, chief executive of Loomis Sayles. ‘His dedication is reflected within the success and growth of the Loomis Sayles global bond capabilities over the past two decades, and we wish him the best in retirement.’
Boston-based Loomis Sayles, an affiliate of Natixis Investment Managers, had $264.4 billion in total assets under management as of June 30.