Cortina Asset Management, a Milwaukee-based firm that manages assets for corporations, foundations and pension plans, has put together a new equity team to operate out of its new New York office.
Alexander Yaggy, a 20-year veteran, as well as Andrew Storm, and John Clausen makeup the new small-cap value and smid value funds team, the May 24 press release listed.
Previously, prior to joining the seven-year-old firm that has about $2 billion in assets under management, both Yaggy and Storm worked at Morgan Stanley/Van Kampen, where they managed its small-cap value and small-mid value fund, the May 24 press release stated.
Yaggy served as co-manager of the “award winning” funds, while Storm was an analyst. In October 2009, Invesco announced that it would acquire Van Kampen Investments, a portion of Morgan Stanley’s retail asset management arm.
Bill Hensel, director of media relations at the Atlanta-based Invesco, told IMMP that Yaggy joined Invesco when the deal closed June 1, 2010 in order to “allow for a smooth transition of his portfolio to another manager until his departure on July 30, 2010.”
Further information on Storm’s tenure following the acquisition was unavailable.
Alternately, Clausen links up with Cortina after working within Franklin Templeton Investments’ Mutual Series Group. Also, he was associated with the New Jersey Division of Investments and the Federal Reserve Bank of New York.
With Yaggy at the leadership healm for the two funds, Lori Hoch, Cortina principal and chief operating officer, said that the firm believes that the institutional investment veterans will “continue Cortina’s focus on generating superior returns for [its] clients.”