MacKay Shields added two managing directors to its institutional sales team.
Elizabeth Philipp and Jonathan Reining joined MacKay Shields as managing directors in institutional business development and senior marketers, a spokeswoman said in an email. Ms. Philipp is based in New York and is responsible for marketing the firm’s strategies within client and consultant channels. Mr. Reining is based in San Francisco and markets the firm’s strategies in health care and other specialized markets.
Both report into John Akkerman, global head of distribution.
Ms. Philipp was a managing director and head of North American business development at Capital Dynamics; Mr. Reining was a managing director of business development at Wells Fargo Asset Management. Ms. Philipp was replaced by Susan Giacin, Capital Dynamics spokesman Nicholas Rust said. Wells Fargo Asset Management spokesman Robert Julavits declined to comment on a replacement for Mr. Reining.
MacKay Shields had $132 billion in assets as of Dec. 31.