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Symphony Asset Management Names New Investment Leaders as CIO, CEO Gunther Stein Steps Down

October 1, 2018

NEW YORK & SAN FRANCISCSO--(BUSINESS WIRE)--Oct 1, 2018--Nuveen announced that Gunther Stein has stepped down as Chief Investment Officer and Chief Executive Officer at its Symphony Asset Management affiliate, which appointed four investment leaders who will continue the firm’s longstanding investment philosophy, process and approach.

Mr. Stein, who will remain at Symphony as Chairman through the end of 2018, is departing for both business and family reasons. He has made no other professional plans.

His investment roles have been assumed by four senior leaders who have worked closely with Mr. Stein for more than a decade in driving all portfolio decisions. Each has at least 14 years of service at the firm. They are Scott Caraher, Head of Loans; James Kim, Head of Research; Jenny Rhee, Head of High Yield; and Himani Trivedi, Head of Structured Credit. The four are now Co-Heads of Investments and will report to Nuveen CIO and Head of Global Investments Jose Minaya.

“After nearly two decades of working to build Symphony into a premier manager of alternative and traditional corporate credit and equity strategies, I want to take a break for myself and create the opportunity for the next set of investment leaders,” Mr. Stein said. “I am fully confident that Scott, James, Jenny and Himani will continue to deliver investment excellence.”

Symphony’s investment process will continue as a team-based approach to rigorous fundamental research, valuation and risk analysis to identify value across the capital structure and deliver desirable portfolio outcomes. The new Co-Heads of Investments have always been a part of the process and, working closely with Mr. Stein, have also had discretion over the respective strategies since inception.

“As a further demonstration of my confidence in my colleagues and our investment process, a significant portion of my wealth will remain invested in Symphony strategies,” Mr. Stein added.

“And I am further assured by Jose that he and our partners at Nuveen will continue to provide excellent support and resources for Symphony even as we maintain our investing independence.”

“We want to thank Gunther for his leadership and his vision for creating Symphony’s team-based investment culture,” Mr. Minaya said. “When Gunther joined in 1999, the firm’s primary focus was equities and convertible arbitrage, with total assets of just over $3 billion. Today the firm has approximately $20 billion spread across leveraged loans, high yield, convertible arbitrage and equities.”

About Symphony

Symphony, an affiliate of Nuveen, applies a team-based approach to rigorous fundamental research and risk analysis across the corporate capital structure, identifying and translating relative value into desired risk-reward outcomes. For more information, please visit www.symphonyasset.com.

About Nuveen

Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $973 billion in assets under management as of 6/30/18 and operations in 16 countries. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

Nuveen Securities, LLC, member FINRA and SIPC.

The information contained on the Nuveen website is not a part of this press release.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181001005519/en/

CONTACT: Nuveen

Kathleen Cardoza, 312-917-7813

kathleen.cardoza@nuveen.com

KEYWORD: UNITED STATES NORTH AMERICA CANADA CALIFORNIA NEW YORK

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE

SOURCE: Nuveen

Copyright Business Wire 2018.

PUB: 10/01/2018 09:00 AM/DISC: 10/01/2018 09:01 AM

http://www.businesswire.com/news/home/20181001005519/en

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