In continuing its hiring spree from last year, the roster for Jeffrey Gundlach’s bond investment management firm has continued to grow in size thanks to a multitude of departures at The TCW Group.
DoubleLine Capital, formerly known as DoubleLine, has added Luz Padilla, former TCW emerging markets fixed-income group’s managing director and portfolio manager, as well as her senior investment team; Mark Christensen and Su Fei Koo, a press release from the new company said.
“I’ve worked with Luz for more than 15 years and watched as she served superbly through the currency, credit and political shocks of the last two decades,” DoubleLine CEO Gundlach, and TCW’s former high-yield fixed-income CIO, said in the release. “Looking ahead, I would note that her proven approach to risk management dovetails with my own.”
Padilla, a 15-year TCW group veteran, will lead investments for DoubleLine’s emerging markets debts division, and her team; Christensen and Koo, will lead research for the area, the release said.
Both Christensen and Koo combined have nearly 30-years of experience at TCW, the release said.
“Su Fei, Mark and I are excited to be part of DoubleLine, both for its employee-owned accountability to our future clients and for the opportunity to be associated with the outstanding risk management talent Jeffrey has assembled under his leadership,” Padilla said.
On Dec. 4, Gundlach was terminated from his lead TCW investment position due to threats he made to leave the firm and take “key employees with him,” Erin Freeman told Investment Management Weekly Dec. 7. Less than two weeks after his dismissal, Gundlach started his own firm. In total, the new start-up firm added “nearly 40” TCW departures all last month. A number that Freeman confirmed previously.
Some of the highlighted December appointments include Philip Barach, a former group managing director of the TCW MBS group, who now serves as DoubleLine’s president.
Additionally, Ronald Redell, former president and CEO of the TCW funds and the TCW strategic income fund, was tapped to assume presidential duties for its new mutual fund business.