Matt Burdett has been named head of equities at Thornburg Investment Management, while Christian Hoffmann has been appointed head of fixed income, said a news release Aug. 20.
Burdett and Hoffmann replace Ben Kirby and Jeff Klingelhofer, co-heads of investments, both of whom will step down from their portfolio management duties Aug. 30, and after a transition period, step down from their roles as co-heads of investments and depart the firm Sept. 30.
A Thornburg spokesperson confirmed that Burdett and Hoffmann will have different titles than their predecessors Kirby and Klingelhofer.
Burdett and Hoffmann will also retain their titles as portfolio managers and managing directors, the spokesperson added.
In their new roles, Burdett and Hoffmann will continue to serve as portfolio managers on multiple Thornburg investment strategies. Burdett leads a team that oversees a suite of global, emerging markets, small- and midcap and multiasset equity strategies, while Hoffmann's team manages both taxable and tax-exempt global fixed-income strategies.
Both Burdett and Hoffmann will report to CEO Mark Zinkula.
Thornburg had $45.7 billion in client assets as of July 31, comprising $44.5 billion in assets under management and $1.2 billion in assets under advisement.
