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Deutsche Asset & Wealth Management (DeAWM) announced today that Richard Glass joined the firm as U.S. Head of Small and Mid Cap Value Equities. In addition, Richard J. Hanlon and Mary C. Schafer joined the firm, reporting to Glass.
Glass, Hanlon and Schafer are based in New York. Glass reports to Owen Fitzpatrick, Head of Equities for the Americas. Effective in early September 2013, Glass will become the lead portfolio manager for DWS Small Cap Value Fund, DWS Mid Cap Value Fund and DWS Small Mid Cap Value VIP.
Jerry Miller, Head of DeAWM Americas, said: “We are very pleased to welcome Rich and enhance our equities offering as we continue to build on our strengths in the U.S.”
Randy Brown, DeAWM’s Co-Chief Investment Officer, said: "Small and mid cap value equities are an important asset class for us and the market. Our clients will benefit from the expanded resources of the new Small and Mid Cap Value Equities team."
Glass, who brings 22 years of U.S. small cap and mid cap value investment experience to DeAWM, enhances the firm’s suite of equity investment products, adding small and mid cap value investing expertise to complement its existing strength in other strategies. Glass joins DeAWM after running his own asset management firm, Lockwell Investments LLC, for three years. Before that, he served as the lead portfolio manager on approximately $2.5 billion in small and mid cap value retail and institutional investments for Morgan Stanley Investment Management.
Hanlon brings over 10 years of experience managing value equity products and has over 20 years of experience in portfolio management and equity research. Hanlon ran the asset management firm he founded, Glenville Capital Management, for the past six years. Prior to that, Hanlon was a partner and co-head of the equity group at Silvercrest Asset Management Group.