BOSTON--(BUSINESS WIRE)--Income Research + Management (“Income Research” or “the Firm”), today announced the appointment of Bill O’Malley, a 25-year veteran of the Firm and one of its Managing Principals, as the Firm’s Chief Executive Officer and Co-Chief Investment Officer, effective January 1, 2020. Jack Sommers, one of the Firm’s co-founders and a Managing Principal, will serve as the Firm’s Executive Chairperson.
“Bill’s dedication to IR+M, our clients, and our colleagues balances well with his passion for fixed income,” said Mr. Sommers. “In the spirit of our ‘no surprises’ approach to fixed income investing, we are excited to take this next step in our Firm’s evolution with Bill at the helm.”
Bill O’Malley joined Income Research in 1994, and has been part of the leadership team and a shareholder of the Firm since 2001. He became one of the three Managing Principals of the Firm when those titles were introduced in 2008. In his new role as CEO, Mr. O’Malley will continue to oversee the Firm’s Investment Team, which he has led since 2007, and the Client Service Team, which he has led since 2017. He will also have oversight of the Operations, Technology, Human Resources, and Finance Teams.
Mr. O’Malley will share responsibilities as Co-CIO of the Investment Team with Jim Gubitosi, a Senior Portfolio Manager and a member of the Management Committee. “Our Investment Team is stronger than ever. And during the past 12 years, Jim’s unwavering focus on researching bonds and investing our portfolios has benefited our clients tremendously,” said Mr. O’Malley. “We are collectively committed to building on our great foundation to achieve the strong and consistent investment results our clients rely on.”
Sarah Kilpatrick, a Senior Portfolio Manager and member of the Management Committee, will be appointed Chief Operating Officer. Having held numerous roles within the Firm during her 16-year tenure, Ms. Kilpatrick will retain oversight of Investment and Portfolio-Risk functions, and will take on responsibility for Operations and Technology.
“Sarah has been instrumental in improving our investment processes and setting our vision. Her deep knowledge of the Firm and our clients, coupled with her diverse experience makes her uniquely qualified for this role at IR+M, and I am excited for her to forge even stronger bonds between our Operations, Technology and Investment teams,” said Mr. O’Malley.
Jack Sommers will lead the Executive Committee, partner with Mr. O’Malley and the leadership team on long-term strategic initiatives, continue to participate in the Management Committee, serve as client ambassador, and will retain oversight of the Firm’s Compliance function in his new role as Executive Chairperson.
Added Mr. O’Malley: “Our goals for IR+M are unchanged: maintain a consistent investment philosophy, deliver exceptional performance and service for our clients, and ensure the Firm is a fun, stimulating and inclusive place to work. With 32 years of history behind us and an incredible team to work with, we have the wind at our backs for the Firm’s continued success.”
About Income Research
Income Research + Management is a privately owned U.S. fixed income firm with approximately $75 billion in assets under management. The Firm manages a broad range of fixed income strategies across the maturity spectrum for institutional investors and private clients. Its investment solutions include short duration cash, core, and credit-only mandates for yield-seeking investors, long-term LDI custom portfolios for DB pension plans looking to de-risk, as well as tax-efficient municipal bond and crossover strategies for taxable or private clients. Income Research + Management was founded in 1987 by John and Jack Sommers, and today is predominantly employee-owned. It is headquartered in Boston, MA.