LOS ANGELES--(BUSINESS WIRE)--The TCW Group, a global asset management company, today announced the appointment of Penelope D. (Penny) Foley to the TCW Board of Directors, effective immediately.
Ms. Foley is currently a Portfolio Manager and Co-Head of the TCW Emerging Markets and International Equities Group. Prior to joining TCW in 1990, she was a Senior Vice President at Drexel Burnham Lambert where she was involved in the management of DBL Americas Development Association, L.P. and in the provision of investment and merchant banking services in Latin America. Before Drexel, she was a Vice President in Citicorp's Investment Bank and was responsible for Eurosecurities, project finance and private placements in Latin America and Canada. Previously, Ms. Foley was an Associate in the Corporate Finance Department at Lehman Brothers.
“Penny brings considerable industry and global markets experience, as well as a deep understanding of TCW’s business, to this role on the Board,” said David Lippman, President and Chief Executive Officer of TCW. “As the long-time co-head of TCW’s second largest strategy, Penny has consistently demonstrated a strong track record of leadership, business acumen, and sound judgment, and we look forward to her contributions.”
Ms. Foley replaces Jess Ravich, who has stepped down from the Board.
Ms. Foley attended Northwestern University and holds a BA from Hollins College. She is Chair of the Board of Trickle Up, a global non-profit that helps women around the world living in extreme poverty start small businesses and take the first steps out of poverty. She is also a member of the Board of the Los Angeles Opera.
About The TCW Group
TCW is a leading global asset management firm with a broad range of products across fixed income, equities, emerging markets and alternative investments. With more than four decades of investment experience, TCW today manages approximately $200 billion in client assets. Through the MetWest Funds and TCW Funds families, TCW manages one of the largest mutual fund complexes in the U.S. TCW’s clients include many of the world’s largest corporate and public pension plans, financial institutions, endowments and foundations, as well as financial advisors and high net worth individuals. For more information, please visit www.tcw.com.