Ronald R. Redell left his post as president and CEO of the TCW Funds Inc. and TCW Strategic Income Fund Inc. to run the fixed-income mutual fund operation at DoubleLine LLC, according to a news release.
DoubleLine is the firm launched earlier this week by Jeffrey Gundlach, TCW’s former chief investment officer.
While more than 30 members of Mr. Gundlach’s mortgage-backed securities investment team at TCW have left the firm to join DoubleLine since TCW terminated Mr. Gundlach Dec. 4, Mr. Redell is the first executive from the broader TCW organization to follow suit.
According to information on TCW’s website, Mr. Redell also served as the director of the company’s products and services group, overseeing client service initiatives.
TCW spokeswoman Erin Freeman said: “We fully expected some resignations as a result of our announcement, and we’re making every effort to retain key individuals.”