Thornburg Plans Leadership Transition

Rhea-AI Summary

Thornburg Investment Management's CEO, Jason Brady, will step down later this year. The company oversees $42 billion in assets and will begin the search for a successor. Brady will continue in his role during the transition.

Positive

• Thornburg Investment Management oversees $42 billion in assets
• Strong results have been delivered across the business
• Experienced group of world-class leaders at the organization

Negative

• CEO stepping down could create uncertainty and impact investor confidence

SANTA FE, N.M., May 5, 2023 /PRNewswire/ -- Thornburg Investment Management ("Thornburg"), a global investment firm that oversees $42 billion in assets¹, today announced that Jason Brady intends to step down later this year from his role as president & CEO and portfolio manager, as well as from the Board of Directors of Thornburg, and depart the firm. Mr. Brady will continue in his role to allow for a smooth transition while Thornburg's Board of Directors undertakes a search for his successor.

"Since joining Thornburg in 2006, I am proud of what we have achieved, particularly the strength of the team we have developed, and I'm grateful for the opportunity to serve as the firm's president and CEO for nearly eight years," said Mr. Brady. "This is the appropriate time for a new leader to step in and I remain fully involved and engaged while the Board searches for a successor."

"I thank Jason for delivering strong results across our business and notably assembling an experienced group of world-class leaders at the organization," said Chairman Garrett Thornburg. "Our 41-year foundation leaves us well positioned to make the next phase of our growth the most exciting in our company's history."

About Thornburg

Thornburg is a global investment firm delivering on strategy for institutions, financial professionals and investors worldwide. The privately held firm, founded in 1982, is an active, high-conviction manager of fixed income, equities, multi-asset solutions and sustainable investments. With $42 billion in client assets¹ as of April 30, 2023, the firm offers mutual funds, closed-end funds, institutional accounts, separate accounts for high-net-worth investors and UCITS funds for non-U.S. investors.

As an independent firm, Thornburg can take on a wide range of opportunities, explore ideas thoroughly and work across strategies to deliver consistent risk-adjusted outperformance over the long term. The firm attracts free-thinking professionals who are eager to pursue investment outcomes beyond the confines of popular wisdom. From nimble operational capabilities to principles and actions fitting of a global citizen, Thornburg's world-class investment platform and team are aligned on strategy to serve investors.

Thornburg's U.S. headquarters is in Santa Fe, New Mexico with offices in Hong Kong and Shanghai. For more information, visit www.thornburg.com or call (877) 215-1330.

Media Inquiries
Michael Corrao
Director of Global Communications
Thornburg Investment Management
Tel: +1 (505) 467-5345
Email: mcorrao@thornburg.com

¹ Includes $41 billion in assets under management and $1 billion in assets under advisement as of April 30, 2023.

View original content to download multimedia:https://www.prnewswire.com/news-releases/thornburg-plans-leadership-transition-301817555.html

SOURCE Thornburg Investment Management

FAQ

Who is stepping down from Thornburg Investment Management?

Jason Brady, the CEO and portfolio manager.

How much assets does Thornburg Investment Management oversee?

Thornburg oversees $42 billion in assets.

What will happen during the transition period?

Jason Brady will continue in his role as CEO until a successor is found.

What impact could the CEO's departure have?

The CEO's departure could create uncertainty and impact investor confidence.