Nancy G. Angell will retire as partner and co-director of fixed income investment at GW&K Investment Management at the end of 2023.
Ms. Angell first joined the firm in 1984 and helped "build and grow the firm's municipal bond capabilities and relationships," according to a Tuesday release.
She became a portfolio manager and partner in 1989, and in 2001 she was appointed co-director of fixed income along with John B. Fox.
As co-director, she "shared overall responsibility for the management of fixed income assets, including portfolio management, research, and trading," the release noted.
Tom Powers, co-CEO of GW&K, stated in the release that Ms. Angell's "investment expertise, steady leadership and dedication to clients has helped shape the municipal bond team and investment process at GW&K."
Ms. Angell will continue to work with the municipal bond investment team through December 2023, the release added.
Mr. Powers said by email: "When Nancy departs at the end of 2023, our current municipal bond portfolio managers collectively will manage our municipal bond strategies."
Regarding a possible successor to Ms. Angell as co-director of fixed income, a spokeswoman for GW&K said by email: "The co-directorship will stay in effect through year-end. GW&K has a very deep bench of talented investment and business professionals. They will continue to assess their business strategies and investment leadership to ensure that the firm remains as competitive as it can."
Of GW&K's $46.8 billion in equity and fixed-income assets under management as of Dec. 31, $30 billion was invested in municipal bond assets.
