JERSEY CITY, N.J.--(BUSINESS WIRE)--The independent Directors/Trustees of the Lord Abbett Family of Funds have appointed Mark A. Schmid and Douglas B. Sieg to serve on the Funds’ Board. These appointments (effective April 20, 2016, for Mr. Schmid, and effective February 24, 2016 for Mr. Sieg) expand the number of Directors/Trustees, from nine to 11.
Currently, Mr. Schmid is Vice President and Chief Investment Officer of the University of Chicago, a position he has held since 2009. His experience as a financial executive spans almost three decades, including prior roles as Chief Investment Officer at both Boeing Company and DaimlerChrysler. Mr. Schmid earned an MBA in finance from Wayne State University and a BS in accounting from the University of Detroit. He also is a licensed certified public accountant (CPA).
Mr. Sieg is the Partner in charge of Client Services for Lord Abbett, a position he has held since 2013. He joined the firm in 1994, and was named a Partner in 2001. During his tenure at Lord Abbett, he has served in senior leadership roles in sales, relationship management, product development, and marketing. Earlier in his career, he was a Financial Consultant at Pennsylvania Financial Group. He has worked in the financial services industry since 1992. Mr. Sieg earned a BS in business from The Pennsylvania State University.
Reflecting on the new appointments, E. Thayer Bigelow, Chairman of the Board of the Lord Abbett Family of Funds, said, “The addition of these two seasoned professionals brings to the Board insight and experience from within and outside the organization. As members of the Board, Mark and Doug will play important roles in overseeing the governance of Lord Abbett mutual funds.”
For more information about the Lord Abbett Family of Funds, please visit lordabbett.com.
About Lord Abbett
Lord, Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. Founded in 1929, Lord Abbett is one of the oldest money management firms in the United States, and has forged a culture that is investment-led and investor-focused. Lord Abbett manages approximately $127 billion in assets (as of March 31, 2016) across a full range of mutual funds, institutional and separately managed accounts, including $1.5 billion for which Lord Abbett provides investment models to managed account sponsors.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in a fund’s summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional or Lord Abbett Distributor LLC at 888-522-2388, or visit us at lordabbett.com. Read the prospectus carefully before investing.
Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.
Shares of Lord Abbett mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, and are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of principal amount invested.