Federated Hermes, Inc. announced that Steve Chiavarone, CFA, will become Chief Investment Officer (CIO) for Global Equities effective September 1, 2026, following Steve Auth's decision to retire after 26 years with the firm, including 24 years as global equity CIO. Chiavarone currently serves as Deputy CIO for Global Equities. As CIO for Global Equities, Chiavarone will be responsible for supervising investment processes, overseeing portfolio performance and attribution across the firm's Global Equities platform and the continued development of the investment teams. He will also help oversee all aspects of the investment process across a diverse range of offerings and play a central role in articulating Federated Hermes' macro-investment positioning to clients, intermediary customers and other stakeholders.
Chiavarone brings 21 years of investment experience, including 19 years in Federated Hermes' Global Equities Group, and has served as Deputy CIO since August 2025. He is head of the firm's Multi-Asset Group and Senior Equity Strategist, responsible for portfolio management and research across global asset allocation strategies, a role he will transition off ahead of becoming global equity CIO. He will remain a member of the Federated Hermes Macro Economic Policy and PRISM Asset Allocation committees.
Steve Auth's tenure as CIO was marked by the development of the firm's equities investment structure, including the establishment of centers of excellence across strategies and geographies, enhanced proprietary research and portfolio risk management, and the continued growth of the platform. Under his leadership, the equities franchise expanded significantly in scale and global reach, managing $100.8 billion of client assets as of March 31, 2026. Auth and Chiavarone will undertake an orderly transition of responsibilities between May 7, 2026 and September 1, 2026.
Federated Hermes, Inc. is an investment management company. The Company operates through a single segment, being the investment management business. It sponsors, markets, and provides investment-related services to various investment products, including sponsored investment companies and other funds (Federated Hermes Funds); and Separate Accounts, which include separately managed accounts (SMAs), institutional accounts, sub-advised funds and other managed products in both domestic and international markets. In addition, it markets and provides stewardship and real estate development services to various domestic and international companies. The Company provides investment advisory services to approximately 176 Federated Hermes Funds. It markets these funds to institutional customers and banks, broker/dealers and other financial intermediaries who use them to meet the needs of customers and/or clients, including, among others, retail investors, corporations, and retirement plans.
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