Waddell & Reed Appoints Daniel Scherman as Chief Risk Officer For Investments
26 July 2016 - 6:15AM
Business Wire
Waddell & Reed Financial, Inc. (NYSE: WDR) announced today
the appointment of Daniel G. Scherman, CFA, as Senior Vice
President of its investment adviser subsidiaries, Waddell &
Reed Investment Management Company and Ivy Investment Management
Company, in the newly created role of Chief Risk Officer.
“Waddell & Reed has always focused on delivering solid
long-term investment performance to our clients,” said Philip J.
Sanders, CFA, Chief Investment Officer and incoming Chief Executive
Officer of Waddell & Reed Financial, Inc. “Our investment team
collectively believes in the strength of our investment process,
which we believe will be enhanced by the addition of Dan to the
team.”
Scherman will be responsible for enhancing and executing
policies and procedures related to investment risk management
capabilities across the firm, providing comprehensive portfolio
oversight, and serving as Chair of the Investment Risk Management
Committee. He will report to John E. Sundeen, Jr., CFA, Senior Vice
President and Chief Administrative Officer – Investments and
indirectly report to Sanders in his upcoming role as Chief
Executive Officer.
"Dan will play an important role in helping to articulate our
portfolio risk management philosophies and practices to all of our
constituencies in the institutional and retail distribution
markets," said Thomas W. Butch, Executive Vice President and Chief
Marketing Officer. "This should further strengthen their
understanding of, and confidence in, our investment process."
Among his previous experience, Scherman, 54, served for nearly
10 years as SVP, Chief Risk Officer and Portfolio Manager at Janus
Capital Group, and 13 years at MFS Investment Management where he
held the roles of Global Fixed Income Portfolio Manager, Equity
Portfolio Manager and Senior Quantitative Analyst. He received his
Bachelor of Arts, Economics and History from Dartmouth College and
his MBA, Finance from Boston University. Scherman is a CFA charter
holder.
About the Company
Waddell & Reed, Inc., founded in 1937, is one of the oldest
mutual fund complexes in the United States, having introduced the
Waddell & Reed Advisors Group of Mutual Funds in 1940. Today,
we distribute our investment products through the retail
unaffiliated distribution channel (encompassing broker/dealer,
retirement, and registered investment advisors), our retail
broker-dealer channel (our network of financial advisors), and our
Institutional channel (including defined benefit plans, pension
plans and endowments, and our subadvisory partnership with
Mackenzie in Canada).
Through its subsidiaries, Waddell & Reed Financial, Inc.
provides investment management and financial planning services to
clients throughout the United States. Waddell & Reed Investment
Management Company serves as investment advisor to the Waddell
& Reed Advisors Group of Mutual Funds, Ivy Funds Variable
Insurance Portfolios and InvestEd Portfolios, while Ivy Investment
Management Company serves as investment advisor to Ivy Funds.
Waddell & Reed, Inc. serves as principal underwriter and
distributor to the Waddell & Reed Advisors Group of Mutual
Funds, Ivy Funds Variable Insurance Portfolios and InvestEd
Portfolios, while Ivy Distributors, Inc. serves as principal
underwriter and distributor to Ivy Funds.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160725006214/en/
Waddell & Reed Financial, Inc.Investor contact:Nicole
Russell, 913-236-1880VP, Investor RelationsorMedia
contact:Roger Hoadley, 913-236-1993VP, Director of
Communications
Waddell and Reed Financial (NYSE:WDR)
Historical Stock Chart
From Apr 2024 to May 2024
Waddell and Reed Financial (NYSE:WDR)
Historical Stock Chart
From May 2023 to May 2024