Bond giant TCW Group has hired longtime Goldman Sachs Group Inc. asset management executive Katie Koch as its next chief executive officer and president.
Koch, 42, joins the $220 billion asset manager after 20 years at Goldman, where she rose to become partner. She was most recently chief investment officer of Goldman's public equity business, a $300 billion unit within the bank's asset management division.
She will start the new role in coming months, the Los Angeles-based firm said in a statement.
"Koch will be responsible for all aspects of the leadership and management of TCW," the firm said. That includes "leading TCW's teams around the world, delivering investment excellence for clients, and driving the firm's continued growth trajectory."
Koch will replace David Lippman, who will retire from TCW at the end of the year. Former bond chief Tad Rivelle has also left the firm, capping a three-decade run in fixed income which included once briefly running the world's biggest actively managed bond fund.
While the firm is known for its long tenure of managing fixed-income, it also has investments in equities, alternatives and emerging markets.
