Federated Hermes names new fixed-income CIO as veteran retires

Federated Hermes Inc. (NYSE: FHI) announced leadership changes in its fixed-income division, with R.J. Gallo set to become chief investment officer for global fixed income when Robert Ostrowski retires on May 1, 2026.

Gallo, currently deputy CIO for global fixed income and co-head of the Municipal Bond Group, will oversee investment processes across the company's fixed-income products, which manage $101.8 billion in assets as of September 30, 2025. The Pittsburgh-based asset manager said the transition is part of its succession planning.

Ann Ferentino will become sole head of the Municipal Bond Group, taking over from her current co-head role with Gallo. She will oversee $7.1 billion in municipal managed assets as of September 30, 2025.

Gallo joined Federated Hermes in 2000 and has 31 years of investment experience. He previously worked as a financial analyst and trader at the Federal Reserve Bank of New York. Ferentino has been with the company for 30 years and manages eight mutual funds and other client portfolios.

Ostrowski retires after 38 years with Federated Hermes. During his tenure as CIO since April 2004, the company's fixed-income assets under management grew from $29.5 billion to $101.8 billion as of September 30, 2025.

The company's global fixed-income team includes 107 investment professionals who average 19 years of industry experience and 14 years at Federated Hermes. Federated Hermes reported $871.2 billion in total assets under management as of September 30, 2025.

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