Cambridge, Massachusets, United States
Numeric Investors LLC, an independent investment firm backed by TA Associates and managing more than $11.5 billion of active long-only and market-neutral equity portfolios for institutional and individual investors, today announced that Michael Even, CFA will join the firm as President and Chief Executive Officer, effective June 1. Langdon Wheeler, CFA, President and Chief Investment Officer, will continue as CIO and assume the new role of Chairman.
Mr. Even will join Numeric from Legg Mason, where he serves as Executive Vice President and Head of Institutional Asset Management. He previously served nine years with Citigroup Asset Management.
"We have known Mike for 10 years as one of the most principled, thoughtful, and decisive managers in our industry," said Wheeler. "Importantly, Mike shares our client-friendly business philosophy of maximizing dollars of excess return that has always set Numeric apart from most of our industry. Bringing Mike on board now is in keeping with our long-established plan to gradually reduce my role at Numeric at a pace that will insure continuity of the firm and its business strategy."
At Legg Mason since the transaction with Citigroup closed in December 2005, Mr. Even has been responsible for the integration of former Citigroup Asset Management assets into Legg Mason investment subsidiaries and had corporate oversight for those investment subsidiaries that focus on institutional clients. Previously his roles at Citigroup included Global Head of Quantitative Research, Chief Investment Officer for Citigroup Private Bank and most recently, Global Chief Investment Officer and Co-Head of Citigroup Asset Management. Mike was also a member of the Citigroup Management Committee. Prior to Citigroup, Mr. Even was a Managing Partner at Boston-based Independence Investment Associates.
"I am extremely excited to join Numeric," said Even. "For me, the opportunity to lead a small, focused, independent investment manager provides a thrilling new opportunity as well as a return to my origins in the investment management business. I have known Numeric for over a decade and I have admired their culture, investment acumen and quantitative thought leadership. The opportunity to manage such an organization is a perfect culmination of my experiences."
Numeric utilizes proprietary computer models to analyze fundamental information about stocks. Beginning with a single strategy and $40 million under management in 1989, the firm has grown to utilizing five primary models with varying emphases in 17 strategies, in the U.S., Japanese, and European stock markets. Numeric manages the n/i Numeric Investors family of funds, institutional portfolios, limited partnerships and offshore funds.
"TA Associates and the Numeric Board of Directors are delighted to have Mike join the firm," said P. Andrews McLane, Senior Managing Director of TA Associates. "As CEO, Mike will be able to employ his exemplary management skills to lead the firm while Lang focuses on the investment processes and serves as Chairman. This is a natural progression of Numeric's evolution and growth as an organization that builds on the company's strengths in global quantitative research and investment management."
About Numeric Investors LLC
Numeric Investors is an active quantitative manager of U.S. and international equity portfolios offering investment strategies with aggressive investment objectives. The firm manages traditional long-only as well as market-neutral long/short equity portfolios. Numeric's investment strategies rely on proprietary computer models to analyze fundamental information about stocks and exploit market inefficiencies. Founded in 1989, Numeric employs more than 60 people and has approximately $11.5 billion under management. The firm manages institutional portfolios, limited partnerships, and offshore funds and is the advisor to the n/i Numeric Investors family of mutual funds.
Numeric is a portfolio company of TA Associates, a Boston-based private equity and buyout firm that has invested in nine investment management firms over the past 15 years. More information can be found at www.numeric.com.
Safe harbor statement under the U.S. Private Securities Litigation Reform Act of 1995: Statements made in connection with this release which are not historical fact, such as forward-looking statements concerning future financial performance and growth, involve risk and uncertainties. Such statements are subject to various factors that could cause actual results to differ materially from those set forth in the forward-looking statements. Any forward-looking statements represent the best judgment of Numeric Investors LLC as of the date of this release. Numeric Investors LLC disclaims any intent or obligation to update any forward-looking statements.
CONTACT: Numeric Investors Edward Goldfarb 617-374-3430 erg@numeric.com or Arnold Corporate Communications Philip Nunes 617-587-8906 pnunes@arn.com
CONTACT: Numeric Investors Edward Goldfarb 617-374-3430 erg@numeric.com or Arnold Corporate Communications Philip Nunes 617-587-8906 pnunes@arn.com , ,
Source: Business Wire (Business Wire India)