Asset manager Calamos Investments hired USAA Investments' longtime chief investment officer Matt Freund as co-CIO and head of fixed income strategies.
Freund will lead Calamos' further expansion into fixed income, credit and alternative products. According to Calamos' founder John P. Calamos, Sr., Freund will add a "depth of experience" to Calamos in a new area for the firm.
As chief investment officer at USAA, Freund's responsibilities included fixed income and equity investments, trading and research, as well as serving as lead portfolio manager for several highly rated fixed income mutual funds. Freund also led USAA's teams responsible for the portfolio management of USAA's mutual funds and affiliated portfolios, including P&C and life insurance products. At USAA, Freund oversaw more than $140 billion in assets.
According to John Koudounis, Calamos' chief executive officer, Freund's appointment is a major step in the execution of the firm's mission to offer new and compelling investment opportunities in key arenas.
"Our goal is to provide dynamic, deep credit and alternative products as a key component of our firm's growth strategy going forward," he said in a statement. "In addition, Matt's contributions to the investment team overall will strengthen the capabilities of our existing product set while his experience will extend our presence in new segments of our industry."
