Robert Daly, a senior portfolio manager who exited BlackRock in June, has joined asset manager Glenmede Investment Management as director of fixed income.
In his new role, Daly will be responsible for overseeing more than $4 billion of tax-exempt and taxable fixed-income strategies for Glenmede’s institutions, consultants and private clients. He will also manage a team of traders, portfolio managers, credit analysts and other professionals.
Based in Philadelphia, Daly will report to Peter Zuleba, director of investment management of Glenmede and president of its institutional investment division. Meanwhile, he will also serve as a member of Glenmede’s investment policy committee.
Prior to joining Glenmede, Daly spent over 13 years at BlackRock, where he managed US and global fixed income strategies on both institutional and retail platforms. He also managed multi-sector fixed income portfolios and investment-grade credit strategies.
While at BlackRock, he also led a team responsible for asset allocation, portfolio construction, risk management and formulating investment process.
Prior to joining BlackRock, Daly worked as a research analyst at First National Bank of Arizona, where he analyzed business opportunities and drafted research reports on residential housing market trends and new mortgage products for the head of mortgage division, according to his LinkedIn page.
'Investing in talent is one of the ways we strengthen our business, and Rob’s leadership skills, coupled with his ability to balance macroeconomic insights with bottom up credit analysis will enhance our position as a premier provider of fixed income strategies,' said Zuleba.
Founded in 1956, Glenmede Investment Management LP had $18.1 billion of assets under management as of June 30.
On a separate note, BlackRock has hired Martin Jaugietis away from Russell Investments to co-head the pensions division of its newly-created client portfolio solutions (CPS) team, according to an internal memo obtained by Citywire yesterday.
The firm has also made two hires on its pension outsourced CIO teams: managing director Joseph Gelly and director Matthew Weinstein from Mercer and Goldman Sachs Asset Management, respectively.
To read the full story on BlackRock's hires, please click here.