Effective September 25,
2024:
- Eric Sorensen stepping down as
CEO, transitioning to Vice Chair and continuing to serve as a
member of PanAgora's Board of Directors
- Bryan Belton, a veteran PanAgora portfolio manager,
appointed President and CEO
- George D. Mussalli promoted to Global CIO
BOSTON, Sept. 25,
2024 /PRNewswire/ - PanAgora Asset Management,
Inc. (PanAgora), a preeminent quantitative investment manager,
today announced changes to its executive leadership team that will
help drive the company into its next phase of growth. These
changes, effective immediately, reflect thoughtful succession
planning and elevate leaders to deliver on strategic
priorities.
After 40 years in the industry and an impressive 20-year tenure
at PanAgora, today Eric Sorensen
will be stepping down from his daily responsibilities as President
and Chief Executive Officer. As part of this transition, Mr.
Sorensen will assume the role of Vice Chair and will remain a
member of PanAgora's Board of Directors. Here, PanAgora's clients
and investment teams will continue to benefit from Mr. Sorensen's
insights and thought leadership. This is the natural next step on a
strategic path the firm has been working towards for some time.
"The Board of Directors is grateful for the decades-long
commitment Mr. Sorensen has provided, helping us build PanAgora
into a global innovator in quantitative investing. Mr. Sorensen has
been a tremendous leader and mentor, playing a key role in talent
development, as reflected in the changes announced today," said
Robert L. Reynolds, Chair of
PanAgora's Board of Directors. "We are confident that the vision,
talent and perspectives PanAgora's leadership team brings to the
table will drive PanAgora's next phase of growth, while deepening
trusted client relationships."
Succeeding Mr. Sorensen as President and Chief Executive Officer
will be Bryan Belton, a veteran
portfolio manager and respected leader at PanAgora for nearly 20
years. Mr. Belton has consistently excelled during his long career
in the asset management industry, spanning trading, portfolio
management, research and client relations. Mr. Belton will also be
appointed to PanAgora's Board of Directors.
"I am immensely proud of the PanAgora team and am confident this
plan will enable the firm to continue to deliver attractive,
risk-adjusted returns for our clients for decades to come," said
Eric Sorensen. "Mr. Belton's
solutions-oriented approach is a hallmark of the firm's culture and
business model. Under this leadership team, PanAgora and its
clients are well-positioned for continued growth."
"It is an honor to have the confidence of the Board of
Directors, and I look forward to serving our clients in this new
role," said Bryan Belton. "The
strength of our leadership team is a key differentiator for
PanAgora."
In addition, George D. Mussalli,
a 20-year veteran of PanAgora who has served as CIO of Equity
Strategies since 2011, will be promoted to Global CIO and will also
join PanAgora's Board of Directors. Mr. Mussalli is an innovative
thought leader in the quantitative investment industry. He is the
founder of PanAgora's Stock Selector strategy and is well known for
his early use of alternative data sets as well as his creative
combination of quantitative and fundamental signals. In this newly
created role, Mr. Mussalli will oversee both the Equity and
Multi-Asset teams, bringing enhanced collaboration to PanAgora's
research and investment groups. Edward
Qian, a proven authority in multi-asset investing, will
remain CIO of Multi-Asset Strategies and continue to grow this
successful platform. Jaime H. Lee
and Richard Tan will continue to
lead the firm's bottom-up equity strategies, and Jason Ketchen will continue to lead PanAgora's
business support functions.
About PanAgora Asset Management, Inc.
PanAgora Asset Management is a quantitative investment manager
whose proprietary approach is designed to capitalize on
inefficiencies across market cycles and to deliver relative and
absolute returns through distinct and innovative equity,
multi-asset and risk premia strategies. PanAgora's approach
combines the firm's fundamental investment philosophy and original
research with an advanced quantitative framework. These elements
come together in an open, collaborative environment that builds
upon the intellectual versatility of its team and leverages their
complementary strengths — all of which are essential to meeting and
exceeding the evolving objectives of institutional investors
worldwide.
PanAgora was founded in 1989 and is based in Boston,
MA. Shareholders include the Firm's employees and Great-West
Lifeco Inc (TSX:GWO), a member of the Power Corporation group of
companies. More information about PanAgora can be found by
visiting www.panagora.com.
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SOURCE PanAgora Asset Management
