Penn Mutual Asset Management (PMAM) of Horsham, Pennsylvania, announced this week that it has promoted former managing director and portfolio manager Mark Heppenstall to chief investment officer (CIO), following his outstanding leadership since June 2014.
“I am excited to make the announcement about Mark’s promotion today,” PMAM Chairman and CEO David O’Malley said. “Mark has a tremendous background in managing fixed income and has demonstrated his ability to lead the investment team on a track of measurable success. We continue to seek opportunities to leverage our talent in ways that help deliver the best results for our clients.”
With over 27 years of experience with institutional investors, Heppenstall previously worked in a management capacity with the Pennsylvania Public Schools Employees Retirement System (PSERS) for over 15 years, handling close to $7.5 billion in assets. He will continue to oversee PMAM’s corporate and structured fixed income investments while contributing to the group’s overall long-term vision.
Penn Mutual Asset Management (PMAM) is a registered investment adviser in the commonwealth, managing over $20 billion in assets. It has managed a proprietary fund complex for the Penn Series Funds since 1989, overseeing life and annuity products, fixed income funds and other investments. PMAM is a wholly owned subsidiary of The Penn Mutual Life Insurance Company.
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