Federated Hermes announces promotion of Mark Weiss to head of Prime Liquidity Group

Core Viewpoint - Federated Hermes, Inc. announces the promotion of Mark Weiss to head of the Prime Liquidity Group, effective July 1, 2026, following the retirement of Paige Wilhelm [1][4]. Group 1: Leadership Changes - Mark Weiss, with over 28 years of experience in trading, research, and portfolio management, will oversee portfolio management and research for prime money market investment strategies, which currently manage $242.7 billion in assets [2][3]. - Paige Wilhelm, who has been with Federated Hermes for 41 years, is retiring after significantly contributing to the growth of the firm's prime funds [4]. Group 2: Financial Overview - As of December 31, 2025, Federated Hermes manages $902.6 billion in total assets, with $682.6 billion specifically in money market assets [5][4]. - The investment management team consists of 34 professionals, averaging 22 years of industry experience, contributing to the firm's strong reputation in credit analysis and liquidity management [4].