US Bancorp Piper Jaffray Asset Management has hired Tony Rodriguez to oversee its $30 billion fixed-income portfolio. Rodriguez left the New York offices of Credit Suisse Asset Management (CSAM) last Friday, where he oversaw the firm's $5-6 billion in corporate bond assets. He will take charge of US Bancorp's 40-50 person Minneapolis-based team later this month. Rodriguez's former boss,Gregg Diliberto also resigned last week from his position as managing director and head of CSAM's core fixed-income assets. He is taking a senior fixed-income position within a $160 billion largely proprietary portfolio at Citigroup Global Investments. His hiring is not related to the departure of a team of portfolio managers from Citigroup Asset Management (see story, page 2.)
Rodriguez has been in the fixed-income business for over 15 years, including earlier stints at Prudential Investment Management and General Electric Investment Corp. He declined to comment when reached at CSAM last Thursday.
Leland Crabbe, CSAM's head of emerging markets, will assume responsibility for corporates while retaining his earlier responsibilities. He did not return a call. Caroline Chartier, CSAM spokeswoman, declined to comment.
The name of the person at US Bancorp who Rodriguez is replacing could not be determined. One person familiar with the situation believes the person is retiring. Mark Jordahl, US Bancorp's cio and the person to whom Rodriguez will report, did not return calls.