Management

Ben Bruck

Ben Bruck

Global Head — Macquarie Investment Management

Ben Bruck has been with Macquarie for 27 years and has global responsibility for Macquarie’s securities asset management division, Macquarie Investment Management (MIM). MIM manages fixed income, equities, multi-asset, and hedge funds out of 17 locations around the world. Overall these responsibilities encompass more than 800 staff and $US 250 billion of assets under management. From 2003 to 2008, he was head of the Funds Management Group (the precursor to MIM), a period over which its AUM and earnings grew significantly. Prior to this role, Bruck formed the International Division of the Bank’s funds management business in 1995 with affiliated businesses in Asia and South Africa. In 2009, Bruck led the acquisition of Delaware Investments, which became known as Macquarie Investment Management in April 2017, and was Macquarie Group's largest acquisition to that date.

Shawn Lytle

Shawn K. Lytle

Head of Macquarie Investment Management, Americas
President, Delaware FundsSM by Macquarie

Shawn K. Lytle is head of Macquarie Investment Management, Americas and president of the Delaware Funds by Macquarie. He oversees several multi-boutique investment teams that span all major asset classes and provide investment solutions for individual and institutional investors. Lytle joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in June 2015. He became CEO and president of the Delaware Funds in August 2015 and director/trustee in September 2015. Before joining the firm, he held several management roles at UBS Global Asset Management where he worked for 13 years. He was regional head of the Americas for UBS for five years, based in Chicago and New York. Before that, Lytle worked in London in various roles within the firm’s equity group, including deputy global head of equities. Before joining UBS in 2002 as a global equities portfolio manager, he worked for JPMorgan Asset Management for 10 years in a variety of roles in London and New York, including global equities client portfolio manager and US mutual fund sales. He received a bachelor’s degree in marketing from The McDonough School of Business at Georgetown University. Lytle serves as chair on the board of directors of the National Association of Securities Professionals (NASP), he is a member of the board of directors of the Sustainability Accounting Standards Board (SASB), and he is a member of the board of governors for the Investment Company Institute (ICI).

David Brenner

David Brenner

Chief Administrative Officer — Macquarie Investment Management

David Brenner joined Macquarie Investment Management (MIM) in September 2015 to oversee strategic business planning, operational processes, and execution across the Delaware Investments business, and to assist with the coordination and execution within MIM. Prior to joining the firm, he worked with UBS Global Asset Management from 2004 to 2015, leaving as chief operating officer, Americas. In that role, Brenner was responsible for the operational processes across the Americas business areas including distribution, client service, marketing, and product management. He also worked with the regional head in the tactical, day-to-day running of the Americas business, as well as in driving the strategic business planning process. Prior to joining UBS, Brenner worked at Arthur Andersen and KPMG in Chicago where he specialized in strategy, technology, and risk consulting. He earned a bachelor’s degree in business from Miami University in Ohio, and his MBA from the University of Chicago Booth School of Business.

Stephen J. Busch

Stephen J. Busch

Senior Vice President, Head of Separately Managed Account Operations and Fund Oversight
Macquarie Investment Management, Americas

Stephen J. Busch leads the separately managed account (SMA) operations and fund oversight for Macquarie Investment Management (MIM), which includes the former Delaware Investments, in the Americas, a role he has held since March 2005. He is also responsible for the transfer agent and fund accounting oversight for Delaware FundsSM by Macquarie and Optimum Fund Trust, roles he has held since July 2011 and October 2007, respectively. He joined the firm in December 1986 and held staff and supervisory positions in internal audit before assuming a managerial role for the financial control department. In 1993, Busch left Delaware Investments to pursue opportunities at SEI Financial Services and Lincoln Investment Planning, where he held various positions including relationship manager, project manager, and trainer. After rejoining Delaware Investments in March 1996, Busch held various leadership positions in operations leading up to his current responsibilities. Busch earned a bachelor’s degree in accounting from Drexel University and he is a member of the Association for Financial Professionals. He is a past member of the National Investment Company Service Association’s Transfer Agent Committee, a current member of the ICI Operations and International Committees, and also participates in several mutual fund and SMA industry user groups.

Michael F. Capuzzi

Michael F. Capuzzi, CFA

Senior Vice President, Head of Investment Operations
Macquarie Investment Management, Americas

Michael F. Capuzzi is head of investment operations in the Americas, a role he has held since June 2007. He has worked in the firm’s operations department for more than 30 years. He has held various positions with Macquarie Investment Management (MIM), which includes the former Delaware Investments, including vice president of investment systems and assistant vice president of institutional and mutual fund investment accounting. From 1993 to 1995, Capuzzi worked at SEI Corporation supporting its investment management system and performance measurement system. He earned a bachelor’s degree from St. Joseph's University and an MBA from La Salle University. Capuzzi is a member of the CFA Institute and the CFA Society of Philadelphia.

David F. Connor

David F. Connor, Esq.

Senior Vice President, General Counsel
Macquarie Investment Management, Americas

David F. Connor, Esq., is general counsel for Macquarie Investment Management (MIM), which includes the former Delaware Investments, responsible for overseeing the firm’s legal department in the Americas, a role he assumed in May 2015. From July 2000 to May 2015, he was deputy general counsel, and he has been secretary for the firm since 2005. From 1998 to 2000, Connor worked in the legal department of Prudential Investments. Previously, he was an associate with the law firm of Drinker Biddle & Reath LLP, where he focused on investment management work. Connor earned his bachelor’s degree from Washington & Lee University and his juris doctor degree from Vanderbilt University School of Law. He also serves on the board of the Settlement Music School in Philadelphia.

Roger Early

Roger A. Early, CPA, CFA

Executive Director, Global Co-Head of Fixed Income Investments
Macquarie Investment Management

Roger A. Early is global co-head of the firm’s fixed income team. He rejoined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in March 2007 as a member of the firm’s taxable fixed income portfolio management team, with primary responsibility for portfolio construction and strategic asset allocation. He became head of fixed income investments in the Americas in February 2015. During his previous time at the firm, from 1994 to 2001, he was a senior portfolio manager in the same area, and he left the firm as head of its US investment grade fixed income group. In recent years, Early was a senior portfolio manager at Chartwell Investment Partners and Rittenhouse Financial and was the chief investment officer for fixed income at Turner Investments. Prior to joining the firm in 1994, he worked for more than 10 years at Federated Investors where he managed more than $25 billion in mutual fund and institutional portfolios in the short-term and investment grade markets. He left the firm as head of institutional fixed income management. Earlier in his career, he held management positions with the Federal Reserve Bank, PNC Financial, Touche Ross, and Rockwell International. Early earned his bachelor’s degree in economics from The Wharton School of the University of Pennsylvania and an MBA with concentrations in finance and accounting from the University of Pittsburgh. He is a member of the CFA Society of Philadelphia.

Alex Goldsmith

Head of Strategy — Macquarie Investment Management

Alex Goldsmith is the head of strategy for Macquarie Investment Management, a role he assumed in September 2015. From March 2010 to August 2015, he worked with Macquarie’s internal strategy consulting group, the Business Improvement & Strategy division, where he was responsible for executing strategic projects across the firm’s businesses in North America, including sales and trading, investment banking, asset management, and wealth management. Before that, Goldsmith was a principal in the financial services practice at Booz & Company, the global management consulting firm, where he worked with asset management, insurance, wealth management, and investment banking clients on topics related to strategy, growth and innovation. From 2004 to 2009, he worked at Katzenbach Partners (which was acquired by Booz & Company in 2009), where he led client engagements on a range of issues related to corporate and business unit strategy and marketing and distribution effectiveness. Goldsmith began his career with Hill & Knowlton, where he was a member of the crisis and issues management practice. He earned his bachelor’s degree in English literature from Connecticut College and an MBA with a concentration in management from Columbia Business School. Goldsmith is a member of the Board of Directors for The HOPE Program.

Dominic Janssens

Dominic Janssens

Global Chief Operations Officer — Macquarie Investment Management

Dominic Janssens joined Macquarie Investment Management (MIM) in April 2016 as global chief operations officer. In this role, he is responsible for developing the strategy to optimize and scale MIM’s global platform in areas including investment operations, administration, controls, fund accounting, business management, and financial and management analysis. Prior to joining the firm, Janssens worked at T. Rowe Price as director of global investment and institutional client services, beginning in 2008. Previously, he worked at State Street Global Advisors for two years as global head of investment operations. From 2000 to 2005, Janssens worked at Deutsche Asset Management, leaving the firm as head of asset management operations. Earlier, he held senior roles at Cargill Investor Services and Deutsche Bank AG. Janssens earned a bachelor of engineering degree with a concentration in civil engineering from Aston University in Birmingham, England.

John Leonard

John Leonard, CFA

Executive Director, Global Chair of Equities
Macquarie Investment Management

John Leonard joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in March 2017 as global chair of equities, providing strategic oversight of the firm’s nine US-based equity investment teams. Prior to joining the firm, he worked at UBS Global Asset Management for more than 25 years in a variety of roles, most recently as global head of equities from April 2008 to February 2017. Leonard joined Brinson Partners (which later became part of UBS) in 1991 as a portfolio strategy analyst, before becoming head of equity strategy in September 1994, a role he held for nearly six years. From January 2000 to December 2007, he was head of North American equities for the firm. Leonard earned his bachelor’s degree in government from Dartmouth College and an MBA with a concentration in finance from the University of Chicago Booth School of Business. He is a member of the CFA Institute.

Timothy McCarty

Timothy McCarty

Associate Director, Human Resources Business Partner
Macquarie Investment Management, Americas

Timothy McCarty currently oversees the US human resources activities at the firm. He joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in March 2008 as a human resources business partner supporting legal, compliance, finance, and operations. Prior to joining the firm, McCarty spent two years in corporate human resources at Lincoln Financial Group, where he was responsible for recruitment activities following the merger between Lincoln Financial and Jefferson Pilot. Previously, he worked at Cigna for more than six years, where he held a variety of roles in the company’s human resources organization. McCarty received a bachelor’s degree in business administration from Shippensburg University and an MBA from Villanova University.

Susan L. Natalini

Susan L. Natalini, CFA, CAIA®

Senior Vice President, Chief Operations Officer of Equity and Fixed Income Investments
Macquarie Investment Management, Americas

Susan L. Natalini is the chief operations officer of the US-based equity and fixed income investment teams for Macquarie Investment Management (MIM), which includes the former Delaware Investments. In this role, she is responsible for investment-related vendor management, finance and planning, and other activities in support of the investment teams, as well as special projects. In addition, Natalini serves as a Trustee for the Macquarie Management Holdings, Inc. 401(k) and Retirement Plan. From September 2010 to October 2015, she was the head of equity and fixed income business operations. Previously, she managed the firm’s marketing communications team and its shared services areas, including a team of five performance analysts with primary responsibility for the content of all institutional materials as well as competitive analysis and client reporting; the RFP and consultant database teams; and a group responsible for servicing the institutional-only Delaware Pooled® Trust mutual funds. Prior to that, Natalini was the director of strategic planning for Delaware Investments from 1995 to 1998. Before joining the firm in 1994, she spent five years as a management consultant in the financial advisory services group of Coopers & Lybrand. She began her career at Wells Fargo Bank. Natalini graduated from Carleton College with a bachelor’s degree in economics and received an MBA with a concentration in strategic planning from The Wharton School of the University of Pennsylvania. Natalini is a member of the CFA Society of Philadelphia and the Chartered Alternative Investment Analyst Association®.

Ilysse Pratter

Ilysse Pratter

Global Head of Human Resources — Macquarie Investment Management

Ilysse Pratter joined Macquarie Investment Management (MIM) in October 2016 as the global head of human resources. Prior to joining the firm, she worked at Apollo Global Management in New York where she was a senior human resources business partner from May 2011 to September 2016. In this role, Pratter was responsible for recruitment, talent management, organizational and leadership development, performance management, and employee relations. Prior to joining Apollo, she worked for Neuberger Berman / Lehman Brothers in talent management and recruiting. Pratter started her career at Deloitte as a human capital consultant. She earned her bachelor’s degree in organizational studies at the University of Michigan.

Richard Salus

Richard Salus, CPA

Global Head of Fund Administration and Division Director
Macquarie Investment Management

Richard Salus is responsible for fund administration activities for all of the pooled vehicles globally for Macquarie Investment Management (MIM), which includes the former Delaware Investments. The activities include financial reporting, treasury, tax, fund accounting, policy and procedures, fund Board support, product strategy and deployment support, and fiduciary to shareholders. Prior to October 2016, Salus was the chief financial officer for the firm, and a division director within the firm’s Finance Management Group, and he had held a variety of financial roles for the firm and certain of its predecessor entities since 1996. Salus remains the chief financial officer for all of the firm’s entities, including the mutual fund businesses of Delaware FundsSM by Macquarie and Optimum Fund Trust. Additionally, he is chairman and director for Macquarie Collective Funds plc, MIM’s Ireland-based mutual fund complex, and a director of Macquarie Fund Solutions, Macquarie’s Luxembourg-based mutual fund complex. Prior to joining the firm in 1996, he worked for Ernst & Young as a senior manager with a primary focus on the banking and investment company sector. He earned his bachelor’s degree in accounting from Franklin & Marshall College, and he is a member of the American Institute of Certified Public Accountants and the Pennsylvania Institute of Certified Public Accountants. He also has various roles for certain non-public committees.

Neil S. Siegel

Neil S. Siegel

Co-Head of Client Group — Macquarie Investment Management, Americas

Neil S. Siegel is chief marketing and product officer, and co-head of the firm’s client group in the Americas, which includes the firm’s sales, service, marketing, product, and defined contribution investment-only teams. He joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in November 2015. Prior to joining the firm, Siegel worked for Neuberger Berman/Lehman Brothers from 2004 to 2015 as a managing director, and most recently as the firm’s global chief marketing officer. Before that, he worked at Morgan Stanley for 11 years in various leadership positions, including head of institutional and intermediary marketing for Morgan Stanley Investment Management in London and New York. He received a bachelor’s degree in marketing, with a minor in economics, from the University of Massachusetts Amherst and an MBA with a concentration in finance from the Fordham Graduate School of Business.

Brett Wright

Brett Wright, CIMA®, CPWA®

Co-Head of Client Group — Macquarie Investment Management, Americas

Brett Wright is co-head of the firm’s client group in the Americas, which includes the firm’s sales, service, marketing, and product teams. In this role, he leads all retail, institutional, and client service functions for Macquarie Investment Management (MIM), which includes the former Delaware Investments. Prior to assuming this role, from July 2014 to June 2016, Wright was responsible for third-party broker/dealer distribution activities to wirehouses, regional and independent firms, as well as key account management with major distribution partners. From January 2011 to June 2014, he was a divisional manager overseeing 10 regional directors who were responsible for the distribution of Delaware FundsSM by Macquarie, including separately managed accounts, in the western part of the United States. Wright brings more than 20 years of industry experience to the firm. From August 2008 to January 2011, he was a senior vice president with ING Investment Management, where he led the Independent Key Account group. Prior to that, he held various sales and senior sales management roles at AXA Equitable, Merrill Lynch, and Lord Abbett. Wright earned a bachelor’s degree from The Pennsylvania State University, where he served as captain of the football team in 1992. In 2013, he began service on the board of directors for the Investment Management Consultants Association, a community for advanced investment advisors and wealth managers.

Investment Management, Team Leaders

Chris Beck

Christopher S. Beck, CFA

Senior Vice President, Chief Investment Officer
Small-Cap Value / Mid-Cap Value Equity

Christopher S. Beck leads the firm’s Small-Cap Value / Mid-Cap Value Equity team. Prior to joining Macquarie Investment Management (MIM), which includes the former Delaware Investments, in 1997 as a vice president and senior portfolio manager, he was vice president at Pitcairn Trust from 1995 to 1997, where he managed small-capitalization stocks and analyzed equity sectors. Before that he was chief investment officer of the University of Delaware from 1992 to 1995 and held management positions during his seven years at Cypress Capital Management and four years at Wilmington Trust. Beck earned a bachelor’s degree at the University of Delaware and an MBA from Lehigh University, and he is a member of the CFA Society of Philadelphia and past president of the Wilmington Society of Securities Analysts.

Liu-Er Chen

Liu-Er Chen, CFA

Senior Vice President, Chief Investment Officer — Emerging Markets and Healthcare

Liu-Er Chen heads the firm’s global Emerging Markets team, and he is also the portfolio manager for Delaware Healthcare Fund, which launched in September 2007. Prior to joining Macquarie Investment Management (MIM), which includes the former Delaware Investments, in September 2006 in his current position, he spent nearly 11 years at Evergreen Investment Management Company, where he most recently worked as managing director and senior portfolio manager. He co-managed the Evergreen Emerging Markets Growth Fund from 1999 to 2001, and became the Fund’s sole manager in 2001. He was also the sole manager of the Evergreen Health Care Fund since its inception in 1999. Chen began his career at Evergreen in 1995 as an analyst covering Asian and global healthcare stocks, before being promoted to portfolio manager in 1998. Prior to his career in asset management, Chen worked for three years in sales, marketing, and business development for major American and European pharmaceutical and medical device companies. He received his medical education in China, and he has experience in medical research at both the Chinese Academy of Sciences and Cornell Medical School. He holds an MBA with a concentration in management from Columbia Business School.

Joseph Devine

Joseph Devine

Senior Vice President, Chief Investment Officer — Global Ex-US Equities

Joseph Devine joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in March 2016 as head of the Global Ex-US Equity team. He is the lead portfolio manager for the firm’s Emerging Markets Opportunities and Emerging Markets Small Cap strategies. Previously, he worked at UBS Asset Management from July 2007 to February 2016, first as senior portfolio manager and then as head of the Global ex-US Growth Equities team. Prior to UBS, Devine worked at Nicholas-Applegate Capital Management from July 2005 to July 2007 as lead portfolio manager for the Emerging Markets and Pacific Rim portfolios of the International Growth team. Prior to that, he was an Asian equity analyst at Duncan-Hurst Capital Management. Devine was also responsible for the firm’s Global Emerging Markets portfolio. He previously held trading positions at Peregrine Investment Holdings in the Philippines and Singapore, and at Credit Suisse First Boston in Hong Kong and Singapore. Devine earned a bachelor’s degree at the University of Southern California and an MBA at the Marshall School of Business at the University of Southern California.

Roger Early

Roger A. Early, CPA, CFA

Executive Director, Global Co-Head of Fixed Income
Macquarie Investment Management

Roger A. Early is global co-head of the firm’s fixed income team. He rejoined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in March 2007 as a member of the firm’s taxable fixed income portfolio management team, with primary responsibility for portfolio construction and strategic asset allocation. He became head of fixed income investments in the Americas in February 2015. During his previous time at the firm, from 1994 to 2001, he was a senior portfolio manager in the same area, and he left the firm as head of its US investment grade fixed income group. In recent years, Early was a senior portfolio manager at Chartwell Investment Partners and Rittenhouse Financial and was the chief investment officer for fixed income at Turner Investments. Prior to joining the firm in 1994, he worked for more than 10 years at Federated Investors where he managed more than $25 billion in mutual fund and institutional portfolios in the short-term and investment grade markets. He left the firm as head of institutional fixed income management. Earlier in his career, he held management positions with the Federal Reserve Bank, PNC Financial, Touche Ross, and Rockwell International. Early earned his bachelor’s degree in economics from The Wharton School of the University of Pennsylvania and an MBA with concentrations in finance and accounting from the University of Pittsburgh. He is a member of the CFA Society of Philadelphia.

Alex Ely

Alex Ely

Senior Vice President, Chief Investment Officer — Small-Cap Growth / Mid-Cap Growth Equity

Alex Ely joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in February 2016 as part of the firm’s acquisition of Bennett Lawrence Management, LLC, a New York-based US growth equity manager. Prior to joining the firm as CIO of Small/Mid-Cap Growth Equity, he was portfolio manager and chief portfolio strategist at Bennett Lawrence. Ely joined Bennett Lawrence in 1997 as a portfolio analyst, and in 2002 he was promoted to portfolio manager. Before joining Bennett Lawrence, he was an equity product manager at Oppenheimer Management. From 1988 to 1989, he was a strategy clerk at the Boston Stock Exchange. Ely earned a bachelor’s degree in economics from the University of New Hampshire.

Ned Gray

Edward A. "Ned" Gray, CFA

Senior Vice President, Chief Investment Officer — Global and International Value Equity

Ned Gray manages the Global and International Value Equity strategies and has worked with the investment team for more than 25 years. Prior to joining Macquarie Investment Management (MIM), which includes the former Delaware Investments, in June 2005 in his current position, Gray worked with the team as a portfolio manager at Arborway Capital and Thomas Weisel Partners. At ValueQuest/TA, which he joined in 1987, Gray was a senior investment professional with responsibilities for portfolio management, security analysis, quantitative research, performance analysis, global research, back office/investment information systems integration, trading, and client and consultant relations. Prior to ValueQuest, he was a research analyst at the Center for Competitive Analysis. Gray received his bachelor’s degree in history from Reed College and a master of arts in law and diplomacy, in international economics, business, and law from Tufts University’s Fletcher School of Law and Diplomacy.

Paul Grillo

Paul Grillo, CFA

Senior Vice President, Chief Investment Officer of Total Return Strategies

Paul Grillo is a member of the firm’s taxable fixed income portfolio management team with primary responsibility for portfolio construction and strategic asset allocation. He is also a member of the firm’s asset allocation committee, which is responsible for building and managing multi-asset class portfolios. He joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in 1992 as a mortgage-backed and asset-backed securities analyst, assuming portfolio management responsibilities in the mid-1990s. Grillo serves as lead portfolio manager for the firm’s Diversified Income products and has been influential in the growth and distribution of the firm’s multisector strategies. Prior to joining the firm, Grillo was a mortgage strategist and trader at Dreyfus Corporation. He also worked as a mortgage strategist and portfolio manager at Chemical Investment Group and as a financial analyst at Chemical Bank. Grillo holds a bachelor’s degree in business management from North Carolina State University and an MBA with a concentration in finance from Pace University.

Frank Morris

Francis X. Morris

Senior Vice President, Chief Investment Officer — Core Equity

Francis X. Morris joined Macquarie Investment Management (MIM), which includes the former Delaware Investments, in 1997 as a vice president and portfolio manager, and is currently the chief investment officer for Core Equity investments. He is also a member of the firm’s asset allocation committee, which is responsible for building and managing multi-asset class portfolios. In addition, Morris serves as a Trustee for the Macquarie Management Holdings, Inc. 401(k) and Retirement Plan. Prior to joining the firm, Morris was vice president and director of equity research at PNC Asset Management. He received a bachelor’s degree from Providence College and holds an MBA from Widener University. He is currently a member of the Business Advisory Council of the Providence College School of Business. Morris is a past president of the CFA Society of Philadelphia and is a member of the CFA Institute. He is a former officer of the National Association of Petroleum Investment Analysts.

Ty Nutt

D. Tysen Nutt Jr.

Senior Vice President, Senior Portfolio Manager, Team Leader — Large-Cap Value Equity

D. Tysen Nutt Jr. is currently senior portfolio manager and team leader for the firm’s Large-Cap Value team. Before joining Macquarie Investment Management (MIM), which includes the former Delaware Investments, in 2004 as senior vice president and senior portfolio manager, Nutt led the US Active Large-Cap Value team within Merrill Lynch Investment Managers, where he managed mutual funds and separate accounts for institutions and private clients. He departed Merrill Lynch Investment Managers as a managing director. Prior to joining Merrill Lynch Investment Managers in 1994, Nutt was with Van Deventer & Hoch where he managed large-cap value portfolios for institutions and private clients. He began his investment career at Dean Witter Reynolds, where he eventually became vice president, investments. Nutt earned his bachelor’s degree from Dartmouth College, and he is a member of the New York Society of Security Analysts and the CFA Institute.

Bob Zenouzi

Babak "Bob" Zenouzi

Senior Vice President, Chief Investment Officer — Real Estate Securities and Income Solutions (RESIS)

Bob Zenouzi is the lead manager for the real estate securities and income solutions (RESIS) group at Macquarie Investment Management (MIM), which includes the former Delaware Investments. Zenouzi created this team, including its process and its institutional and retail products, during his prior time with the firm. He also focuses on opportunities in Japan, Singapore, and Malaysia for the firm’s global real estate securities strategy. He is also a member of the firm’s asset allocation committee, which is responsible for building and managing multi-asset class portfolios. He rejoined the firm in May 2006 as senior portfolio manager and head of real estate securities. In his first term with the firm, he spent seven years as an analyst and portfolio manager, leaving in 1999 to work at Chartwell Investment Partners, where from 1999 to 2006 he was a partner and senior portfolio manager on Chartwell’s Small-Cap Value portfolio. He began his career with The Boston Company, where he held several positions in accounting and financial analysis. Zenouzi earned a master’s degree in finance from Boston College and a bachelor’s degree in finance from Babson College. He is a member of the National Association of Real Estate Investment Trusts and the Urban Land Institute.