MacKay Shields Opens Los Angeles Office
NEW YORK, November 10, 2016
MacKay Shields LLC, a global fixed-income focused investment management firm, is pleased to announce the opening of our Los Angeles Office with an initial focus on establishing a local presence for the firm’s municipal bond team, MacKay Municipal Managers™ (MMM). Located at 11150 Santa Monica Blvd., the office adds to MacKay Shields’ current presence in New York City, NY; Princeton, NJ; and London, UK.
MacKay Shields Chairman and CEO Jeffrey Phlegar said, “Considering the strong relationships that MacKay already has on the West Coast, the time was right to formally expand to best serve our client base.”
“Positive yield is especially attractive to clients whose home markets continue to remain in the negative. With a West Coast presence, we are able to reach and service these clients even more effectively,” added John Loffredo, co-head of MacKay Municipal Managers™.
At the onset, MacKay Municipal Managers™ will expand their on-the-ground support capabilities. Additional fixed income strategies and resources to serve the institutional market may be added over time.
“Moreover, tax conscious California-based investors are increasingly interested in realizing the tax benefits that California-specific municipal bonds generally can deliver to portfolios,” said Bruno Machado, director of Family Office and Institutional Business Development at MacKay Municipal Managers. “With our active management strategy, we seek to provide multi-solutions to our clients in all market environments.”
The MacKay Municipal Managers™ team is led by John Loffredo and Bob DiMella, co-heads and executive managing directors. For over 20 years, the pair has worked together on portfolio strategy and municipal credit. In those two decades, the team has grown to include portfolio managers Scott Sprauer, David Dowden, Michael Petty and Frances Lewis.