Michelle E. Stevens was named principal and CIO at Riazzi Asset Management, where she will lead a team responsible for small-cap, smidcap and all-cap value equity investment portfolios, confirmed CEO John C. Riazzi. It is a new position.
Ms. Stevens was principal, managing director and value equity CIO at Transamerica Investment Management. Joining her at Riazzi are Jonathan DeMoss and Richard Roesch, value securities analysts; the two held the same positions at Transamerica.
A direct replacement for Ms. Stevens has not been named, said Crissy Zantiny, a spokeswoman at Transamerica. The small-cap and smidcap value equity portfolios Ms. Stevens managed at Transamerica are now run by a team co-led by Jeff Hoo and Josh Shaskan, both principals and portfolio managers. The large-cap and all-cap value portfolios Ms. Stevens managed at Transamerica are now managed by a team lead by Geoffrey Edelstein, principal, managing director and portfolio manager.
Ms. Stevens and Mr. Riazzi were co-lead value equity managers at Transamerica until Mr. Riazzi left in June 2007 to establish his own firm. Mr. Riazzi said Riazzi Asset Management has already received commitments of more than $250 million since the beginning of this month, when Ms. Stevens joined the firm.
Its been very well received, he said. Theres a lot of interest in staying with this team.
Riazzi Asset Management currently has about $150 million in assets under management, with about 50% of that from institutional clients. Of the new commitments this month, 80% have been from institutional clients, Mr. Riazzi said.