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Deals & People November 27, 2007
SGI Brings on Nationwide Growth Equity Traders
Topeka, Kansas-based Security Global Investors (SGI) has reached an agreement with Nationwide’s NWD Investment Management to hire the nine-person growth equity investment team from Nationwide Separate Accounts (NSA), an NWD subsidiary.
Reported by Fred Schneyer
According to a press release, the move is expected to occur in early February 2008. The incoming team will assume portfolio management responsibility for the Security Equity Fund Select 25 Series, the Security Mid Cap Growth Fund, and one-half of the Security Equity Fund Equity Series (and the respective related Variable Insurance Trusts), totaling approximately $970 million in incremental AUM.
The team currently manages approximately $475 million in assets across Large Cap Growth (with a 17-year track record, led by Mark Bronzo and Daniel Portanova) and Mid Cap Growth (with an eight-year track record, led by Joseph O’Connor).
“We know that we will be able to retain our investment autonomy while maintaining our entrepreneurial culture. SGI is clearly committed to being a real competitor in the asset management business with a solid mission and strategic plan in place,” said Mark Bronzo, portfolio manager at NSA, in the release. “We are happy to be part of the team.”