Principal Asset Manager Adds Ex-Pimco's Remily for Global Equityby and
Edge also hires former Wellington portfolio manager Jayne
Edge Asset Management oversaw $30.2 billion as of June 30
Principal Financial Group Inc.’s Edge Asset Management hired Cliff Remily, formerly of Pacific Investment Management Co., to help build global equity strategies.
Edge also hired Toby Jayne, previously of Wellington Management, as a co-portfolio manager, the company said in a statement Monday. He’ll work on capital-appreciation and mid-cap strategies, according to the statement.
Principal Chief Executive Officer Daniel Houston, who took the post in August, is seeking to bolster asset management capabilities after its Principal Global Investors purchased stakes in boutique firms such as Liongate Capital Management and Columbus Circle Investors. Seattle-based Edge, acquired by PGI in 2007, oversaw $30.2 billion as of June 30, up from about $20 billion four years earlier.
“As we’ve grown, we’ve added to our team,” Jill Cuniff, president of Edge Asset Management, said in the statement. “Providing the best products and services requires the best people.”
Principal Global Investors is led by CEO Jim McCaughan. He announced last week the hiring of Madelyn Antoncic, former treasurer of the World Bank, as executive director of institutional investment solutions.
Remily worked as executive vice president and global equity portfolio manager at Pimco, and was at Thornburg Investment Management prior to that, Edge said. He received a bachelor’s degree from the University of Washington and an MBA from University of Southern California’s Marshall School of Business. Representatives for Pimco and Wellington didn’t immediately return calls for comment.