] has hired Steven Rung
to lead communications for its mutual fund team.
He will report to Wasatch director of mutual funds Gene Podsiadlo
. The position is new, Podsiadlo told MFWire
Podsiadlo said that the hiring reflects the Salt Lake City-based boutique's commitment to marketing its 19 mutual funds through financial advisors.
"Advisors are very sophisticated and want detailed commentary, including white papers and other information," Podsiadlo said. "Steve will be a great fit because he's a real investment communications pro, as well as an accomplished writer."
Podsiadlo and Rung previously worked together at Warburg Pincus Asset Management
Rung joined Wasatch two weeks ago from Akros Capital LLC
, where he served as CFO and COO. The New York City-based Akros manages the Quaker Akros Absolute Return Fund
Akros founder Brady Lipp
had nothing but praise for his former CFO.
"Steve is one of the premier marketing people in the country, so Wasatch got a great pickup," he said. "I sure hate to lose him."
Lipp said that Akros has not yet moved to replace Rung.
The full press release is below.
Wasatch Advisors Adds Steven Rung to Funds Communications Team
SALT LAKE CITY, Utah (September 25, 2012)— Wasatch Advisors, Inc., investment advisor to the Wasatch Funds, has added Steven G. Rung to its Funds Team. He will be responsible for creating communications for financial advisors and retail shareholders and will coordinate portfolio management commentary and content for Wasatch’s range of investment products.
Said Wasatch Director of Mutual Funds Gene Podsiadlo, “Steve is highly skilled at explaining and reporting sophisticated investment strategies, results, and portfolio metrics and Financial and Wealth Advisors today demand that kind of communication. Wasatch is a research-intensive investment boutique, and adding Steve’s ability to communicate our portfolio approach across all of our strategies indicates how dedicated we are to serving our Advisor, Institutional, and Retail clients.”
Prior to Wasatch, Steven G. Rung was with Akros Capital, LLC and served as the firm's Chief Financial Officer, Chief Operating Officer, Treasurer and Secretary. Prior to Akros, he performed product development, competitor analysis and marketing for the TIAA-CREF Mutual Funds. Mr. Rung worked with Gene Podsiadlo at Warburg Pincus Asset Management from 1993 to 1999 and served as Senior Vice President of Retail Marketing and Operations and, after Warburg Pincus Asset Management was acquired by Credit Suisse, he worked in New York and London for Credit Suisse Asset Management from 1999 to 2001 as Director of Offshore Fund Marketing and Operations. Mr. Rung began his career in 1987 at Strong Capital Management where he worked until 1992 in a variety of positions, including Manager of Retail Marketing for the Strong Funds. He received his B.S. in Business Administration (1987) from Washington University in St. Louis.
About Wasatch Advisors®
Wasatch Advisors is the investment advisor to Wasatch Funds,® a family of no-load mutual funds, as well as to separately managed institutional and individual portfolios. Wasatch Advisors pursues a disciplined approach to investing, focused on bottom-up, fundamental analysis to develop a deep understanding of the investment potential of individual companies. In making investment decisions, Wasatch’s portfolio managers employ a uniquely collaborative process to leverage the knowledge and skill of the entire Wasatch research team. Wasatch Advisors is an employee-owned investment advisor founded in 1975 and headquartered in Salt Lake City, Utah. Total assets under management at 9/15/12 were $13 billion.
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