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TCW CEO Katie Koch speaks during the Exchange ETF Conference in Miami Beach, Florida, on April 13.

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TCW Hires Goldman Veteran as CEO

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Bond giant TCW Group has hired longtime Goldman Sachs Group Inc. asset management executive Katie Koch as its next chief executive officer and president.

Koch, 42, joins the $220 billion asset manager after 20 years at Goldman, where she rose to become partner. She was most recently chief investment officer of Goldman’s public equity business, a $300 billion unit within the bank’s asset management division.

She will start the new role in coming months, the Los Angeles-based firm said in a statement.

“Koch will be responsible for all aspects of the leadership and management of TCW,” the firm said. That includes “leading TCW’s teams around the world, delivering investment excellence for clients, and driving the firm’s continued growth trajectory.”

Koch will replace David Lippman, who will retire from TCW at the end of the year. Former bond chief Tad Rivelle has also left the firm, capping a three-decade run in fixed income which included once briefly running the world’s biggest actively managed bond fund.

While the firm is known for its long tenure of managing fixed-income, it also has investments in equities, alternatives and emerging markets.

Koch worked across positions in Goldman’s asset management division throughout her tenure, with her latest role expanded earlier this year. Before running equities, she spent 10 years in London and had also run multi-asset solutions globally.

“She is widely recognized as an extraordinarily dynamic and inspirational leader, and her appointment ushers in a new generation of leadership for TCW that I have no doubt will have a positive impact on our firm well into the future,” Marc Stern, TCW’s chairman, said in the statement.

“Goldman Sachs takes pride in identifying, nurturing and empowering leaders and it is no surprise when some are offered important leadership roles at other firms,” Julian Salisbury, global co-head of Goldman Sachs Asset Management, said in a statement.

Salisbury and GSAM co-head Luke Sarsfield said in an internal memo that the heads of its three primary investing platforms will report to Ashish Shah, chief investment officer of public investing. They are Steve Barry, CIO of fundamental equity; Monali Vora, head of quantitative equity solutions; and Osman Ali and Dennis Walsh, co-heads of quantitative investment strategies.

(Image: Bloomberg)

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