Payden & Rygel Establishes East Coast Presence, Continues Global Expansion

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May 26, 2010, 10:30 ET

LOS ANGELES, May 26 /PRNewswire/ -- Payden & Rygel, one of the largest privately held investment managers with US$55 billion in assets under management for clients, today announced the opening of its Boston office located at 265 Franklin Street, in the heart of the Financial District.

Payden & Rygel has brought Justin Bullion on board to lead and manage the office. He brings 20 years of investment management experience to the firm, having spent the last 12 years with Wellington Management Company, LLP and, prior to that, worked for investment management firms Miller Anderson & Sherrerd LLP and BlackRock Financial Management.

"The opening of our Boston office and Justin's hiring are exciting developments for our firm and mark a natural expansion for us," said Joan Payden, founder and CEO of Payden & Rygel. "We have been consistently growing our client base on the East Coast and overseas. A presence in Boston will allow us to better serve our clients. We are very fortunate to have Justin leading our effort given his experience in investments and providing advice to clients and their consultants."

Payden & Rygel has grown its business by offering a wide array of fixed-income and equity strategies to institutions and individual investors, including its pioneering work in managing corporate cash and core fixed-income, high yield, and emerging market assets. The firm offers separate accounts, its own suite of mutual funds both in the US (Paydenfunds) and abroad (Payden Global Funds PLC, compliant with UCITS 3), and multiple European strategies through its Metzler/Payden joint venture with Metzler Bank, Germany's oldest private bank.

"The culture and independence of Payden & Rygel are unique in this industry, and I'm excited and fortunate to be part of it," said Bullion. "Our offerings stand out - we have a great opportunity to continue to grow our global expansion. Our Boston team looks forward to hosting as well as visiting our clients, and plans to be a conduit between our very successful London office and our Los Angeles headquarters."

About Payden & Rygel

Payden & Rygel is one of the largest global independent investment managers. Since 1983, the firm has advised corporations, foundations, endowments, pension plans, public funds and individual investors on their overall investment strategies. Payden & Rygel offers a full array of investment strategies, including US and global fixed-income and equity, as well as leading edge absolute-return strategies. Headquartered in Los Angeles with offices in London, Dublin, Frankfurt and Beijing, Payden & Rygel is adviser to the Payden family of US-based mutual funds and to the firm's Irish-domiciled funds.

SOURCE Payden & Rygel