Federated Hermes announces two fixed-income promotions, naming next fixed-income chief investment officer and head of Municipal Bond Group

Core Viewpoint - Federated Hermes announces leadership changes in its global fixed income division, with R.J. Gallo succeeding Robert Ostrowski as CIO and Ann Ferentino becoming the sole head of the Municipal Bond Group, effective May 1, 2026, as part of a long-term succession plan [1][5][6]. Leadership Changes - R.J. Gallo, currently the deputy CIO and co-head of the Municipal Bond Group, will take over as CIO for global fixed income, overseeing $101.8 billion in assets as of September 30, 2025 [2][5]. - Ann Ferentino will assume full oversight of the Municipal Bond Group, which manages $7.1 billion in municipal assets as of September 30, 2025 [5][6]. Experience and Background - Gallo has 31 years of investment experience, having joined Federated Hermes in 2000, and previously worked as a financial analyst and trader at the Federal Reserve Bank of New York [4]. - Ferentino has been with Federated Hermes for 30 years and continues to manage multiple mutual funds and client portfolios [5][6]. Growth and Performance - Under Ostrowski's leadership since April 2004, Federated Hermes' fixed-income assets under management grew from $29.5 billion to $101.8 billion, an increase of $72.3 billion [6]. - The global fixed-income team consists of 107 professionals with an average of 19 years of industry experience, while the municipal fixed-income team averages 18 years [7][8]. Company Overview - Federated Hermes, Inc. is a global leader in active investment management with $871.2 billion in assets under management as of September 30, 2025, providing a range of investment solutions to over 10,000 institutions and intermediaries worldwide [9].