Mark Baribeau joined Jennison Associates as portfolio manager and head of its new global equities strategy, confirmed spokesman Simon Locke.
Mr. Baribeau was a vice president and lead portfolio manager for global equities at Loomis Sayles & Co. Three colleagues from Loomis will join Mr. Baribeau at Jennison: Thomas Davis, a portfolio manager on Loomis’ global equities team, will join Jennison as a portfolio manager, while Loomis research analysts Albert Kwok and Sara Moreno will join the new Jennison team as global equity analysts.
Mr. Baribeau was co-manager of Loomis Sayles’ Global Markets fund and its global growth and global equity opportunities strategies, according to Loomis’ website. Morningstar listed Mr. Baribeau as a manager of the $501.5 million Loomis Sayles Global Equity and Income fund.
All four Jennison positions are new. The firm’s website notes that domestic equity strategies accounted for $78.3 billion of Jennison’s $123.9 billion in assets under management as of Dec. 31, with fixed income accounting for the remainder.
Mr. Baribeau couldn’t immediately be reached for comment.
Warren N. Koontz, who co-managed the equity portion of the Loomis Sayles Global Equity and Income fund with Mr. Baribeau, has become sole lead equity portfolio manager, said Loomis spokeswoman Erin Heard. Mr. Kwok and Ms. Moreno likewise won’t be replaced; the global equity team still has a full complement of 15 senior sector analysts, Ms. Heard said, but the firm will continue to evaluate the team’s resources.
In an e-mail, Mr. Locke called the new team’s fundamental research-driven investment approach a good fit with Jennison’s investment philosophy. Mr. Baribeau’s team will broaden Jennison’s investment capabilities and open “opportunities for new relationships with investors outside the U.S.,” he said.