Sentinel Investments’ chief executive Christian Thwaites yesterday saw four members of his investment team walk away from their posts.
The four portfolio managers, including Charles Schwartz, Betsy Pecor, Matthew McGeary, and Matthew Spitznagle, had managed Sentinel’s Small Company Fund, Mid Cap Fund, Mid Cap II Fund, and Sustainable Mid Cap Opportunities Fund.
Schwartz was also a co]manager of the Conservative Strategies Fund.
“I didn’t see this coming. They called me in at 4:30 PM and walked out at 5:00 PM. I was absolutely stunned,” Thwaites told Money Management Executive.
The team was lifted out by Eagle Asset Management via headhunter Butterfass, Pepe & MacCallan, according to Thwaites, who added that the firm has been engrossed in a huge outreach initiative with its clients over the past two days. “Many of them have seen this before,” he said.
In the interim, Carole Hersam, portfolio manager on the Sentinel Sustainable Mid Cap Fund, will have daily oversight responsibility for the funds, with support from Sentinel’s investment team of investment.