Terrence Gray and Jian Tao joined Lazard Asset Management as portfolio managers, bringing with them an investment strategy and $500 million in client assets, a spokeswoman said.
The roles are new.
Messrs. Gray and Tao, who are based in New York, joined from Global Thematic Partners where they ran the $500 million long-only Bottom Billion Strategy. The fund invests in exchange-traded shares of companies in emerging and frontier markets.
"Both Terrence and Jian bring extensive experience in emerging and frontier markets to our investment platform. The addition of the Bottom Billion Strategy to our suite of products enables us to offer our clients an investment solution that is uncorrelated with our current strategies," Nathan Paul, chief business officer at Lazard Asset Management, said in a news release.
Lazard Asset Management runs $215 billion.
Messrs. Gray and Tao were portfolio managers at Global Thematic Partners. Details of any replacements could not immediately be learned.