Federated Hermes, Inc. announces nomination of new independent director

Rhea-AI Summary

Federated Hermes, Inc. nominates Karen L. Hanlon as an independent director, bringing over 30 years of financial and leadership experience to the board. Hanlon's appointment aims to enhance shareholder value and support the company's global growth strategy.

PITTSBURGH, Feb. 23, 2024 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active, responsible investing, today announced that its board of directors nominated business leader Karen L. Hanlon to stand for election to the board as an independent director at the company's Annual Meeting of Shareholders in April 2024. At that time, the board is expected to expand from six to seven members.

Hanlon, who has more than 30 years of financial and leadership experience, is executive vice president and chief operating officer of Highmark Health, a $26 billion blended health organization that serves millions of customers nationwide. Hanlon is responsible for overseeing strategy and long-term operations of Highmark Health and Highmark Inc., as the organization focuses on bringing high-quality transformational care and insurance products to its customers.

"Karen brings valuable leadership experience and a deep background in accounting and finance to Federated Hermes' board of directors, where her strategic vision and financial insights will help the company continue to strive to serve our clients and enhance shareholder value," said J. Christopher Donahue, president and chief executive officer of Federated Hermes, Inc. "As Federated Hermes continues to grow its global footprint, her business acumen will prove instrumental as the company looks to innovate and evolve."

Since 2018, Hanlon has served as chief operating officer for Highmark Health, after serving as chief financial officer and treasurer since 2014. At Highmark, she played a significant role in strengthening the overall financial performance of the enterprise. She began her career at the public accounting firm KPMG Peat Marwick prior to joining Highmark Inc. in 1997. Hanlon earned her bachelor's degree in accounting from Grove City College.

Hanlon is expected to serve on the board's audit, compensation and compliance committees.

Federated Hermes, Inc. is a global leader in active, responsible investment management, with $757.6 billion in assets under management, as of Dec. 31, 2023. We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies to more than 10,000 institutions and intermediaries worldwide. Our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has more than 2,000 employees in London, New York, Boston and offices worldwide. For more information, visit FederatedHermes.com/us.

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SOURCE Federated Hermes, Inc.

FAQ

Who has Federated Hermes nominated as an independent director?

Federated Hermes has nominated Karen L. Hanlon as an independent director.

What is Karen L. Hanlon's background and experience?

Karen L. Hanlon has over 30 years of financial and leadership experience and is currently the executive vice president and chief operating officer of Highmark Health.

What is the significance of Karen L. Hanlon's appointment to the board of directors?

Karen L. Hanlon's appointment is expected to bring valuable leadership, strategic vision, and financial insights to Federated Hermes, enhancing shareholder value and supporting the company's growth.

How much assets under management does Federated Hermes have?

Federated Hermes has $757.6 billion in assets under management as of Dec. 31, 2023.

Where is Federated Hermes headquartered?

Federated Hermes is headquartered in Pittsburgh with over 2,000 employees globally.