LOS ANGELES, Dec. 18 /PRNewswire/ -- Ronald R. Redell, former President and Chief Executive Officer of the TCW Funds, Inc. and the TCW Strategic Income Fund, Inc., has joined DoubleLine LLC, a Los Angeles-based investment manager of fixed income portfolios, DoubleLine announced today. Mr. Redell will establish the firm's planned suite of mutual funds.
Mr. Redell, 39, joins more than 40 former portfolio managers, analysts, traders and trading assistants of The TCW Group, Inc. to join DoubleLine, a newly formed Investment Advisory Company under the leadership of its controlling shareholders, Jeffrey Gundlach, Chief Executive Officer, and Philip Barach, President. Mr. Redell will serve as President of DoubleLine's mutual fund business.
"Ron Redell was instrumental in growing the brand of TCW mutual funds, which became dominated by fixed income funds," Mr. Gundlach said. "I've known Ron for many years and tremendously appreciate the support he gave to what is now the DoubleLine team in making the TCW Total Return Bond Fund one of the fastest growers in assets under management in the industry. I know that Ron's experience and professionalism will ensure that DoubleLine's future suite of products is successfully launched, distributed and administered in the years ahead."
DoubleLine has started the process of registering with the Securities and Exchange Commission as an investment adviser. Pending application approval, DoubleLine will conduct its business within the limits established by the Investment Advisers Act of 1940.
Mr. Redell will work closely with Louis Lucido, a Principal of DoubleLine, in establishing the company's complex of mutual funds across an array of fixed-income sectors and strategies.
"Having worked with Jeffrey and Phil for close to a decade, I have immense respect for their excellence in investment management, their integrity and above all their commitment to the client," Mr. Redell said. "I could not be more excited about the opportunity to help build DoubleLine into a premier provider of risk management and investment services to our clients."
Before joining DoubleLine, Mr. Redell served as President and Chief Executive Officer of the TCW Funds, Inc., which is the mutual fund platform of The TCW Group, and of TCW Strategic Income Fund, Inc. , a closed-end fund listed on the New York Stock Exchange. He previously was Managing Director and head of the TCW Funds Group, positions in which he directed marketing and strategy of the TCW Funds. During Mr. Redell's tenure in these positions, managed assets of the TCW mutual funds grew from $1 to nearly $16 billion. Mr. Redell joined TCW in 2000. Previously, Mr. Redell was Vice President of Marketing for RS Investment Management, formerly Robertson Stephens, in charge of retail Mutual Fund sales and marketing through intermediary channels. In prior employment, he worked as a Financial Consultant with Wells Fargo Securities. Mr. Redell holds a Bachelor of Arts in Political Science from Stanford University and holds a CFA charter.
About DoubleLine LLC
DoubleLine LLC is an Investment Advisory Company formed recently by CEO Jeffrey Gundlach and President Philip Barach. The company is privately held, with Mr. Gundlach its largest shareholder, and Mssrs. Gundlach and Barach holding a combined controlling interest. DoubleLine's headquarters is in Los Angeles, CA. Its offices can be reached at (213) 223-2346.
This press release is intended solely to provide information about the corporate activities of DoubleLine.
DoubleLine LLC
CONTACT: Mike Sitrick, mike_sitrick@sitrick.com or Lew Phelps, cell:
+1-310-890-7369, lew_phelps@sitrick.com, both of Sitrick And Company,
+1-310-788-2850
