The DC I-O chief at a 33-year-old mutual fund shop left last month.
sister publication, 401kWire, broke the news
that on June 15 Rocco DiBruno
, director of the retirement group for Thornburg Investment Management
], retired from the company after 12 years with the firm. Rob McInerney
, national sales manager for Thornburg, confirmed that there were "no immediate plans to fill" DiBruno's shoes. McInerney is leading the DC I-O effort in the interim.
DiBruno's east regional consultant, Dave Giannini
, also retired from the firm, effective July 2.
Two weeks ago McInerney sent Thornburg staff a memo about the changes. Here's an excerpt:
In light of these and other recent changes, I felt it was important to assure you that Thornburg Investment Management is fully committed to supporting our existing relationships as well as growing our DCIO retirement business. Under my oversight and leadership, we will take some time to assess our current team structure and resources in an effort to ensure that we are strategically positioned for success. In the coming weeks, I will provide further details regarding a strategic business model that will allow us to strengthen our relationships with DC platform and key account partners as well as enhance our coverage of financial advisors, consultants and RIAs.
McInerney praised DiBruno as being "a key driver" for Thornburg's DC I-O efforts. And McInerney confirmed that Jon Blaze
, Brian Bouchard
, Julie Geraci
, and Paul Mendoza
are all staying on with Thornburg.
As June 30, Santa Fe, New Mexico-based Thornburg had $60 billion in AUM.
Stay ahead of the news ... Sign up for our email alerts now