Allan R. Toole, previously portfolio manager at TCW and head of the firm's portfolio analytics group, is now chief risk officer and head of product development at DoubleLine Capital,
As chief risk officer, Toole will focus on coordinating the firm's programs for detection and measurement of material risks to investment portfolios, enabling the firm to maintain accounts in accordance with strategy guidelines and client risk profiles. He will have a key role in the development of internal risk systems and processes for the analysis of the firm's workflows, operations and systems, and the establishment of mitigating controls for material operations risks. Toole also chairs the DoubleLine risk management committee, which meets to review account performance and performance attribution, yield, duration and other risk metrics.
Before joining DoubleLine, he had a 15-year stint at TCW until December 2009. At TCW, he was a managing director and head of the portfolio analytics group, chairman of the portfolio analytics committee and chairman of the market and product development committee.
He was also a portfolio manager of the TCW Asset Allocation Funds and the TCW Alpha SeriesÂ® market-neutral strategy.
Previously, he was a manager of insurance finance for the risk management department at Tenet Healthcare Corp.
"Allan and I have worked with each other professionally for 15 years, and I place implicit trust in his level judgment as well as his analytical acumen," said Jeffrey Gundlach, chief executive officer of DoubleLine Capital. "His contributions will form a keystone to the fulfillment of DoubleLine's foremost objective: the delivery of superior risk-adjusted returns to our clients."
Mr. Toole also heads Product Development and Analytics at DoubleLine. In that capacity, he will review new products and structures to identify material market risks and establish effective risk-management controls over their life cycle. Â Other responsibilities include performance measurement/analytics and compliance with GIPSÂ®, and assistance in marketing/client relations.
"I am extremely pleased," Toole said, "to be associated with an organization built on the philosophy that sound risk management is the key component to good investment performance, and where every DoubleLine associate is a believer in the philosophy."