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| Ron Ryan |
Ryan Asset Liability Management, a new fixed-income manager created by former Ryan Labs President Ron Ryan, has obtained oral agreements from four clients to manage more than $1 billion and expects to put the money to work in investment-grade credits by the end of the month, he said. Ryan, chief financial architect of the new fixed-income manager, declined to name the clients but said they comprise a mixture of new clients and investors from Ryan Labs. And the new manager is currently hunting to ramp up assets from other institutional investors such as pension funds, insurance companies and endowments. "Ryan ALM is a full-service bond firm that will have a TIPS portfolio, a defeasement portfolio of governments and an actively managed portfolio of corporates and mortgages. It will provide liability-hedge fund products and combine equities with bonds in a portable alpha strategy," he stated. The firm will run duration-neutral portfolios. On the hiring front, Ryan ALM is looking to make senior hires to "create a team of superstars," he said. It has opened offices in New York and Palm Beach, Fla., and has started up with a handful of fixed-income veterans. Bob O'Hanesian, president of Fortis Investments, has joined as president; Shelly Krieger, president and founder ofLake Capital Management, is financial strategist and Martha Montegudo, product development director at Ryan Labs, is head of product development at the new firm.