First Eagle Investment Management Launches Dedicated Retirement Effort and Hires Michael Rosenberg as Head
NEW YORK—(November 10, 2016)—As part of a commitment to serving the needs of the retirement market, First Eagle Investment Management (“First Eagle”) today announced that it has formed the Retirement Investment Solutions group and hired Michael Rosenberg as its head. Working closely with First Eagle’s retail and institutional distribution teams, the new group will partner with financial advisors, investment consultants and retirement plan recordkeepers to deliver investment solutions to plan sponsors, plan participants and individual retirement savers.
“One of the biggest social problems of our time is the shortfall in retirement savings for average Americans. First Eagle intends to be a part of the solution to the challenges they face,” said Mehdi Mahmud, CEO and president of First Eagle Investment Management. “Prudent investments that generate attractive long-term real returns and have a history of preventing permanent impairment of capital during down markets can make a meaningful difference. Our investment strategies already help to serve the needs of savers in various stages of their financial life-cycle, from accumulation to distribution. The creation of our Retirement Investment Solutions group will enable us to complement our investment offerings with specialized services and education for retirement savers and their financial advisors, consultants, employer-sponsored retirement plans, recordkeepers, and third-party administrators.”
First Eagle is an independent investment management firm that manages approximately $98 billion in assets on behalf of institutional and individual clients. With the core purpose of providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong focus on downside protection. First Eagle’s investment capabilities include equity, fixed income and multi-asset strategies.
Rosenberg reports to Robert Bruno, head of retail distribution for First Eagle Investment Management and president of FEF Distributors. Bruno said, “I am pleased to bring on board such a talented and experienced executive. With his deep understanding of the persisting challenges within the retirement marketplace, his proven track record in helping to address these challenges, and his stature as one of the industry’s forward thinkers, Mike is the right person for this important role at First Eagle.”
Rosenberg said, “I’m delighted to be joining First Eagle, where I’ve been impressed not just by the talent and track record of the investment teams, but equally by the deep commitment to clients that permeates the entire organization. First Eagle has both the ability and the drive to help retirement savers meet their goals.”
Rosenberg joins First Eagle from Prudential Investments, a unit of Prudential Financial and Prudential Investment Management Services Co., where he was executive VP and director of IODC (investment-only defined contribution). In that role, Rosenberg was in charge of Prudential Investment’s distribution strategy and sales to plan sponsors, consultants, intermediaries and retirement platforms. Prior to joining Prudential in 2007, Rosenberg spent nine years with Goldman Sachs Asset Management, where he was director of retirement services. He also spent 11 years marketing retirement plan services at ABN AMRO.
About First Eagle Investment Management
First Eagle Investment Management is an independent asset management firm dedicated to active investing, with approximately $98 billion in assets under management as of September 30, 2016. Over a long history dating back to 1864, the firm has helped its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles—a tradition that is central to its mission today. First Eagle Investment Management is the adviser to First Eagle Funds. For more information, please visit www.feim.com.
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