Lord Abbett [profile] has appointed five new partners. The investment management firm says the appointments will help it continue to grow.

Alexander Crawford, Joseph Gulli, Todd Jacobson, John Forst, and Frank Paone were all named partners.

“We are proud to recognize the significant contributions of these individuals,” said Daria L. Foster, managing partner at Lord Abbett. “We are confident that they will provide the leadership and guidance that will enable us to build on our momentum and continue our growth.”

Paone told 401kWire that the appointment is not a "put your your feet up on the desk" kind of position.

Here is the press release:

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Company Press Release

LORD ABBETT NAMES FIVE NEW PARTNERS

Appointments Support the Growth of Investment-Led, Investor-Focused Firm

JERSEY CITY, NJ – October 29, 2013 – Lord, Abbett & Co. LLC (“Lord Abbett”), an independent, privately held investment management firm, announced, the appointment of five new Partners effective as of October 2, 2013. As one of the oldest money management firms in the United States, Lord Abbett has been managing equity and fixed-income products for more than 80 years, and currently manages approximately $136 billion (as of September 30, 2013)* across a full range of mutual funds, institutional, and individually managed accounts.

  Over the past five years, the firm has been dedicated to strong investment performance, ongoing product innovation, and strategically broadening its distribution—a combination that has further bolstered the success of the organization. As an investment-led firm, Lord Abbett is driven to provide its clients with a quality investment experience—delivered with the highest professional standards. As an investor-focused firm, Lord Abbett believes that everything it does must be in the best interest of clients. The appointment of these new Partners reflects the commitment of these individuals to the principles, values, and objectives of the firm.

  “We are proud to recognize the significant contributions of these individuals,” said Daria L. Foster, Managing Partner. “We are confident that they will provide the leadership and guidance that will enable us to build on our momentum and continue our growth.”

  2013 Lord Abbett Partner Appointments:

? Alexander I. Crawford—Chief Risk Officer, Domestic Equity Investments

? Joseph Gulli—Director of Municipal Bond Research

? Todd D. Jacobson, CFA—Portfolio Manager of International Small Cap Equity

? John K. Forst—Deputy General Counsel

? Frank Paone, CIMA, AIF—Director of Institutional Investor Services

  Alexander I. Crawford joined Lord Abbett in 2012, and has more than 25 years of experience in the financial services industry. As Chief Risk Officer for Domestic Equity Investments, he is responsible for working with Lord Abbett’s equity teams to develop risk parameters, for providing perspectives on overall portfolio risk, and for elevating the role risk plays in the firm’s equity investment processes.

  Joseph Gulli joined Lord Abbett in 2007, and has more than 20 years of experience in the financial services industry. As Director of Municipal Bond Research, he is responsible for the management and training of the Tax-Free Fixed Income Research team, regarding credit evaluation and deal structuring.

  Todd D. Jacobson joined Lord Abbett in 2003, and has nearly two decades of experience in the financial services industry. As Portfolio Manager of International Small Cap Equity, he is responsible for managing the Lord Abbett International Opportunities Fund, which invests in small and mid cap international growth stocks.  

John K. Forst joined Lord Abbett in 2004, and has nearly 30 years of experience in the financial services industry. As Deputy General Counsel, he is responsible for representing the firm in matters of distressed securities, restructuring and related securities and creditors’ rights/bankruptcy claims, and other litigation.  

Frank Paone joined Lord Abbett in 1998, and has more than 15 years of experience in the financial services industry. As Director of Institutional Investor Services, he is responsible for managing Lord Abbett’s Institutional Investor Services team, which serves clients in the defined benefit, defined contribution, endowment, and foundation market segments. He also oversees the firm’s DCIO Specialist team, which is focused on the advisor-led retirement plan market. 

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