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Rating:Stern Says TCW is Doing Better Than He Hoped Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 18, 2011

Stern Says TCW is Doing Better Than He Hoped

Reported by Armie Margaret Lee

Marc Stern found himself in the unenviable spot of running TCW amid the firm's bitter divorce from its CIO, Jeffrey Gundlach, who was ousted in December 2009 and went on to start his own firm.

How is Stern, CEO of Los Angeles-based TCW, doing these days? "It's a hell of a lot better (now) than this time last year," he told Pensions & Investments. "I'm enjoying myself and we are making great progress."

The pub notes that TCW ended March with AUM of $121 billion, marking the third straight quarter that the company saw an increase in AUM. The rise can be attributed in part to the increase in TCW's international focus, according to the article.

"We're doing fine, better than I had hoped for," Stern said.  

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