In an effort to expand its “investment abilities in international equity markets”, Fred Alger Management has hired a team of experts from Allianz Global Investors, the New York-based firm announced Tuesday.
The group includes Pedro Marcal, who was most recently an international portfolio manager for EAFE core growth/Pacific Rim investments at Allianz. Marcal, who has 24 years of investment experience, helped develop many of Allianz’s emerging markets products. He joins Fred Alger as a senior VP and portfolio manager.
Additionally, Ajoy Reddi has signed on at Fred Alger as a VP and analyst, according to the firm’s March 5 statement. During his stint at Allianz, he was an international equity analyst focused on European equities. Previous, he also held investment roles at William Blair & Company and Franklin Templeton Investments.
Warren Zhang has also been named a VP and analyst at Fred Alger. Most recently, he was a VP and analyst at Allianz, where he focused on Asian equities. His earlier experience includes serving as an emerging markets equities analyst at Morgan Stanley, and as an analyst at Fiduciary Trust International.
In the firm’s statement, Dan Chung, CEO and CIO at Fred Alger, explained that international capabilities were expanded at the firm in 2010 when an emerging markets team led by senior VP and portfolio manager Deborah Velez-Medenica was hired.
Allianz could not be reached for comment by IMMP’s press time.
Meanwhile, with the addition of the Allianz team, Fred Alger now has seven international investment professionals, with collective experience of more than 100 years. As of Dec. 31, 2012, the firm managed more than $16 billion for its institutional and retail investor clients.