RMB Capital hired a four-person team from fixed income manager JB Investment Management, an RMB Capital spokeswoman said.
Jeffrey L. Bryden, who was JBIM's president and chief investment officer, will become senior vice president and portfolio manager at RMB. Jonathan G. Rigano, vice president and portfolio manager at JBIM, will have the same title at RMB in the same role, as will Gail L. Betzhold, administrative manager, and Renae Engel, portfolio and client administrator.
The move was not an acquisition, the RMB spokeswoman said, and JBIM's team will become a division of RMB Asset Management, RMB's institutional money management unit, and JBIM will be wound down.
RMB is contacting clients of JBIM, which managed $550 million, to ask them to move their assets to RMB, the spokeswoman said.
RMB Capital had a total of $9.3 billion in assets under management in equity, fixed-income and alternative investments as of June 30.
