Changing of the Guard

Personnel stability on the buy-side might be among the most successful ingredients in gathering assets. And if you put up decent numbers the money will usually find you. The money certainly has found its way to the good folks at Lord, Abbett & Co LLC. The company has seen enviable growth since 1991, with equity assets mushrooming from $5 billion to today's $75 billion. The firm's franchise was built on its value-equity strategies, and if they are successful in building out their growth strategies $100 billion in equity assets should be a layup. But they will have to do it without Robert Morris. The longtime manager and current Chief Investment Officer will be punching the clock for the last time tomorrow when he passes the reins to Robert Dow. “Under Bob’s exceptional leadership, the firm strengthened its investment disciplines, broadened its investment capabilities, and significantly enhanced its competitive position in the marketplace, in addition to attracting experienced talent to the firm and then organizing that talent in disciplined teams around successful products,” says Dow in a release. Lord Abbett. We can't blame Bob for hanging it up, after all 35 years of dealing with the Street is probably enough aggravation for anyone. Well done, Bob. -------------------------------------------------------------------------------------------------- The content containedrepresents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.

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