US - Fund manager Lord Abbett has appointed James Doc Savage as its new director of public fund marketing.
Savage joins Lord Abbett from Merrill Lynch Investment Managers, where he was vice president of marketing. Lord Abbett claims that Savage’s appointment is part of a major, ongoing initiative to grow the firm's institutional investment business.
Speaking about Savage's appointment, Daria Foster, Lord Abbett partner and senior director, marketing / client services, said: We are very pleased that Doc Savage decided to join the Lord Abbett team. We look forward to expanding our existing client base and feel strongly that Doc's extensive experience, leadership and reputation throughout the industry will greatly complement Lord Abbett's investment capabilities for new public-fund sector clients.
Savage, a seasoned industry professional, joins Lord Abbett after three decades as a member of the New York Police Department. At the NYPD, he served as president of the 27,000-member Patrolmen's Benevolent Association, where his duties included chairing the $18bn NYC Police Pension Fund.
Based in New Jersey, Lord Abbett currently has $38bn in assets under management. Of the $38bn managed by the firm, $5.5bn is held by defined benefit (DB) institutional funds. Another $1.8bn, a third of which flowed into the company last year, is in defined contribution funds.
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