New York – (business wire)– Jennison Associates announced with great sadness the passing of its co-founder and longtime Large Cap Growth portfolio manager Spiros “Sig” Segalas. Segalas is a pioneer in growth equity investing and has the longest track record of growth equities in the industry.
Segalas founded Jennison Associates in 1969 with six co-founders and has managed Jennison’s client portfolio for over 50 years. He has led Jennison from its founding as a large cap growth specialist manager to becoming a preeminent institutional investment manager with world-class equity and fixed income capabilities and clients around the world. Throughout his career, Segalas has earned industry accolades such as: Institutional investorMoney Manager of the Year and U.S. Investment Management Award.
Segalas served as an officer in the United States Navy before beginning his career as an investor. Bank Research Starting his career as an analyst, he learned the value of independent research and long-term investment thinking. These remain at the core of Jennison’s investment philosophy today. The firm’s investment approach across the team continues to be driven by proprietary fundamental investment research dedicated to building deep industry and company knowledge. This approach has served our customers for over 50 years.
Segalas built a company steeped in the values that underlie the Jennison culture to this day. He understood the importance of inclusion long before it took on the meaning it has today, hiring some of the industry’s first female investors in the 1970s. Independent thinking, diversity of perspectives and experiences, and talent development are integral to Jennison’s culture and hiring and promotion practices.
Segalas was an active contributor and Large Cap Growth Portfolio Manager until his death at the age of 89. Jennison has always had strong succession planning to ensure seamless oversight of the investment team and client portfolio. Kathleen McCarragher will continue to lead the Large Cap Growth team alongside her Blair Boyer, who brings her more than 50 years of experience with the company. McCarragher has led the Large Cap Growth team for nearly 20 years with Boyer as co-head since 2019. Segaras firmly believed that. His CEO Jeffrey Becker, who joined Jennison in 2016, will continue to lead the company. There is no change in the investment process and no impact on the day-to-day management of clients’ portfolios.
Becker said: All of us at Jennison will miss him. Our team feels a deep responsibility to live up to the values he embodied and his commitment to excellence. ”
Jennison extends his deepest condolences to Sega’s family, friends and colleagues.
Jennison is an affiliate manager of PGIM, the global wealth management business of Prudential Financial, Inc. (NYSE: PRU).
About Jennison Associates LLC
Founded in 1969, Jennison Associates offers a variety of equity and fixed income investment strategies. Its stock expertise spans styles, regions and market caps. Its Fixed Income capabilities include investment grade active and structured strategies of various tenors. Proprietary fundamental research, a dedicated investment team, strong client focus and seasoned investment professionals are among the company’s competitive features. As of September 30, 2022, Jennison managed his $164 billion client assets. For more information, visit jennison.com.
Jennison Associates LLC is not licensed or registered to provide investment services in any jurisdiction other than the United States. Certain investment vehicles are distributed or offered through Prudential Investment Management Services LLC (also Prudential Financial Company) or other affiliates. Additionally, vehicles are not registered or available for investment in all jurisdictions.
About PGIM
PGIM is the global wealth management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than $1.2 trillion in assets under management as of September 30, 2022. With offices in 18 countries, PGIM’s businesses represent a broad range of investments for retail and institutional investors worldwide across a wide range of asset classes, including public and private debt, fundamental and quantitative equity, real estate and alternatives. We provide solutions. For more information on PGIM, please visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any way with Prudential plc, incorporated in the United Kingdom, or Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com.
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