One of the founders of a $285-billion-AUM firm passed away last week at the age of 63.

the late Scott Minerd

Scott Minerd — managing partner, global chief investment officer, and public face of Guggenheim Partners (parent of Guggenheim Investments) — suffered a fatal heart attack during a regular workout last Wednesday, December 21, confirms Mark Walter, CEO and fellow founder of Guggenheim Partners. Walters confirms that co-presidents Dina DiLorenzo and David Rone continue to lead Guggenheim Investments. Walters adds that Anne Walsh will continue to serve as managing partner and CIO of Guggenheim Partners Investment Management and will take over many of Minerd's responsibilities on an interim basis.

Minerd, an alumnus of the University of Pennsylvania's Wharton School, spent nearly 40 years on the fixed income side of the business. After joining Merrill Lynch in 1983, he worked with Morgan Stanley and Credit Suisse First Boston. He joined the newly formed Guggenheim Partners as CIO in 1999. Over the last 23 years, Guggenheim Partners has grown into a 2,100-plus-employee firm (with 900 on the Guggenheim Investments side alone).

"I have known Scott for over 30 years and we were partners much of that time," Walter states. "Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today."

The Guggenheim Partners team describes Minerd as "one of the designers of the organization, systems and procedures" powering the firm and note that Minerd was the mentor and recruiter for many of those on the Guggenheim Investments team.

"He will be greatly missed by all," Walter states. "My deepest condolences are with his husband, family and loved ones." 

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