Delaware Investments Delaware Investments Delaware Investments

Management

Pat Coyne 

Patrick P. Coyne
President — Delaware Management Holdings, Inc.,
Chairman of the Board — Delaware Investments Family of Funds
Executive Director — Macquarie Group
Regional Head of North America — Macquarie Investment Management

Patrick P. Coyne was named president of Delaware Management Holdings, Inc. (Delaware Investments) and chairman of the board of the Delaware Investments Family of Funds in 2006. Since joining Delaware Investments in February 1990, Coyne has served in various investment capacities, ranging from head of the fixed income trading desk to head of the firm’s municipal and tax-efficient fixed income investment teams. On the executive management level, he served as CIO and co-head of the fixed income department, and in 2004 he was named CIO and head of the equity department. In this capacity, Coyne was instrumental in rebuilding the firm’s equity investment talent and product lineup. He is a key architect of the firm’s multi-boutique structure, which emphasizes an appropriate balance between autonomy and accountability. In January 2010 Delaware Management Holdings, Inc. became a member of the Macquarie Group.

Coyne began his career with Kidder Peabody and Co., where he managed the firm’s Philadelphia trading desk. He has lectured on securities trading and portfolio management at the Philadelphia Bond Club. He is on the board of directors of the Kaydon Corporation and serves on its Audit and Compensation Committees; he is a director of The Barra Foundation where he also serves on the Investment Committee, and he is on the board of governors for the Investment Company Institute. He is a member of the Board of Trustees, Finance Committee, and chair of the Investment Committee at the Agnes Irwin School, and a member of St. John Vianney Parish in Gladwyne where he serves on the church’s Finance Committee, and is chair of the Investment Committee. He is also active in the Philadelphia arts community, where he has served on the corporate board for the Philadelphia Museum of Art. He and the company continue to support local Philadelphia charitable organizations through the annual Delaware Investments Charity Classic golf event and numerous corporate-wide fundraising activities. Coyne graduated with honors from Harvard University with a bachelor’s degree in European history and classics, and he earned an MBA with a concentration in finance from The Wharton School of the University of Pennsylvania.

Scott Coleman

J. Scott Coleman, CFA
Executive Vice President, Head of Distribution and Marketing

Scott Coleman joined Delaware Investments in October 2008 to lead the firm’s distribution and marketing activities. In addition to North America, he is also responsible for European distribution for Macquarie Investment Management. Prior to joining Delaware Investments, he spent seven years at Goldman Sachs Asset Management (GSAM), most recently as managing director, running the Investment Consulting Group, which was responsible for distribution of GSAM mutual fund, separate account, 401(k), and alternative investment products. He joined GSAM to lead the firm’s entry into the managed account marketplace. Coleman worked at Lockwood Financial Group where he was director of high net worth services. He also spent 11 years with Smith Barney Consulting Group as senior vice president, director of research. Coleman earned a bachelor’s degree from Wake Forest University and an MBA from Widener University. He is a member of the CFA Institute and the CFA Society of Philadelphia.

Mike Hogan

Michael J. Hogan, CFA
Executive Vice President, Head of Equity Investments

Michael J. Hogan joined Delaware Investments in April 2007 to lead the firm’s equity group. The equity group is comprised of seven independent investment teams spanning a wide range of actively managed equity mandates. The equity teams manage assets for a broad range of institutional and individual clients. Hogan is a member of the firm’s management team. He heads the firm’s asset allocation committee, which is responsible for building and managing a series of multi-asset class portfolios. He is also a member of the firm’s soft dollar committee and fair value pricing committee. Prior to joining Delaware Investments, he spent 11 years at SEI, most recently as managing director and global head of equity. Earlier in his career at SEI, Hogan was a member of the firm’s Global Asset Allocation team, director of the International and Emerging Markets Equity team, and head of the U.S. Equity team. He also worked as an economist and strategist for PNC Asset Management. Hogan started his career at Wharton Econometrics Forecasting Associates. He graduated from the University of Delaware with a bachelor’s degree, and earned a master’s degree, with honors, in economics from the same university. He is currently on the board of directors for the Institute for Quantitative Research in Finance (The Q-Group) and is past president of the Philadelphia Council for Business Economics. Hogan is a member of the CFA Institute and the CFA Society of Philadelphia.

Ania Mikson

Ania Mikson
Senior Vice President, Head of Human Resources

Ania Mikson oversees the human resources activities at the firm. She joined Delaware Investments in 2006 as the HR partner supporting the firm's investment and distribution organizations. Prior to joining Delaware Investments, Mikson spent one year in corporate HR at Lincoln Financial, where she was responsible for managing the integration activities related to the merger between Lincoln Financial and Jefferson Pilot. Previously, she worked at CIGNA for more than 12 years, where she held a variety of roles in the company's finance, retirement services, and HR organizations. Mikson received a bachelor's degree in economics from Franklin & Marshall College, an MBA with a concentration in finance from Villanova University, and a master's degree in organizational design from the University of Pennsylvania.

David O'Connor

David P. O'Connor, Esq.
Executive Vice President, Strategic Investment Relationships and Initiatives and General Counsel

David P. O’Connor, Esq., joined Delaware Investments in 1996 and spent several years in the firm’s legal department, where he was associate general counsel. In June 2005, he was promoted to senior vice president, strategic investment relationships and initiatives, where his responsibilities included overseeing the firm’s sub-advisory relationships, including investment responsibility and coordination of the firm’s Investment Review Committee, and working with the firm’s executive team on strategic opportunities. In late 2005, he took on additional responsibilities when he became the firm’s general counsel, where his responsibilities include overseeing the Legal and Compliance departments. Additionally, O’Connor is chairman of the board of directors for Macquarie Collective Funds plc, Delaware Investments’ offshore mutual fund complex.

Prior to joining Delaware Investments, O'Connor was an associate in the business and finance department of the Philadelphia office of Ballard Spahr Andrews & Ingersoll, where he focused on mergers and acquisitions, contract negotiations, and investment company work. O'Connor is a member of the board of directors for Philadelphia Futures, a nonprofit organization providing urban high school and college students with the necessary resources to achieve a college education. He received a bachelor's degree from Gordon College and earned his juris doctor degree from Villanova University School of Law.

See Yeng Quek

See Yeng Quek, CFA
Executive Vice President, Managing Director, Co-Head of Fixed Income Investments

See Yeng Quek is co-head of the fixed income department at Delaware Investments, overseeing the investment professionals who manage taxable, municipal, structured products, and insurance assets. Before Macquarie Group's acquisition of Delaware Investments from Lincoln Financial Group in January 2010, Quek was also the chief investment officer for Lincoln National Life Insurance Company, where he was responsible for a $75 billion portfolio. Currently, Quek is the lead manager for Lincoln Financial Group's portfolio. Prior to joining Delaware Investments in 2000, Quek was a vice president at Conseco Capital Management. During his seven years there, he managed all of Conseco Insurance Companies’ assets, and managed assets for third-party insurance company clients. He also headed up mortgage-backed securities (MBS), asset-backed securities (ABS), and commercial mortgage-backed securities (CMBS) trading, and directed Conseco’s quantitative research efforts. Before joining Conseco, Quek was an associate director at Bear Stearns, where he developed models for analyses of structured products. Quek received a bachelor’s degree in computer science from the University of Iowa, he is a Fellow of Life Management Institute, and is a member of the CFA Society of Philadelphia.

Phil Russo

Philip N. Russo
Executive Vice President, Chief Administrative Officer

As an EVP and CAO of Delaware Investments, Philip N. Russo directs the firm's financial and infrastructure management in all business areas including retail and institutional funds management, institutional separate accounts, sub-advisory services, managed accounts, and retirement products.

Prior to joining Delaware Investments in September 2004, Russo served in several capacities, most recently as vice president of finance, for Prudential Investment Management. Before that, Russo was with Bankers Trust Company for 17 years, where he held progressively more responsible positions. He left the firm as chief financial and administrative officer, and managing director of the global technology and operating division. Earlier in his career, Russo was a financial consultant with Touche Ross, New York, and a product manager at Citibank. Russo is a graduate of Rutgers University with a bachelor's degree in economics and an MBA with a concentration in finance, and he is on the board of directors for the Settlement Music School and the Philadelphia Police Athletic League.

Investment Management, Team Leaders

Chris Beck

Christopher S. Beck, CFA
Chief Investment Officer — Small-Cap Value / Mid-Cap Value Equity

Christopher S. Beck leads the firm's Small-Cap Value / Mid-Cap Value Equity team. Prior to joining Delaware Investments in 1997 as a vice president and senior portfolio manager, he was vice president at Pitcairn Trust from 1995 to 1997, where he managed small-capitalization stocks and analyzed equity sectors. Before that he was chief investment officer of the University of Delaware from 1992 to 1995 and held management positions during his seven years at Cypress Capital Management and four years at Wilmington Trust. Beck earned a bachelor's degree at the University of Delaware and an MBA from Lehigh University, and he is a member of the CFA Society of Philadelphia and past president of the Wilmington Society of Securities Analysts.

Liu-Er Chen

Liu-Er Chen, CFA
Chief Investment Officer — Emerging Markets and Healthcare

Liu-Er Chen heads the firm's global Emerging Markets team, and he is also the portfolio manager for Delaware Healthcare Fund, which launched in September 2007. Prior to joining Delaware Investments in September 2006 in his current position, he spent nearly 11 years at Evergreen Investment Management Company, where he most recently served as managing director and senior portfolio manager. He co-managed the Evergreen Emerging Markets Growth Fund from 1999 to 2001, and became the Fund's sole manager in 2001. He also served as the sole manager of the Evergreen Health Care Fund since its inception in 1999. Chen began his career at Evergreen in 1995 as an analyst covering Asian and global healthcare stocks, before being promoted to portfolio manager in 1998. Prior to his career in asset management, Chen worked for three years in sales, marketing, and business development for major American and European pharmaceutical and medical device companies. He is licensed to practice medicine in China and has experience in medical research at both the Chinese Academy of Sciences and Cornell Medical School. He holds an MBA with a concentration in management from Columbia Business School.

Roger Early

Roger A. Early, CPA, CFA
Managing Director, Co-Head of Fixed Income Investments, Senior Vice President,
Co-Chief Investment Officer — Total Return Fixed Income Strategy

Roger A. Early rejoined Delaware Investments in March 2007 as a member of the firm’s taxable fixed income portfolio management team, with primary responsibility for portfolio construction and strategic asset allocation. He became co-head of the team in December 2014. During his previous time at the firm, from 1994 to 2001, he was a senior portfolio manager in the same area, and he left Delaware Investments as head of its U.S. investment grade fixed income group. In recent years, Early was a senior portfolio manager at Chartwell Investment Partners and Rittenhouse Financial and was the chief investment officer for fixed income at Turner Investments. Prior to joining Delaware Investments in 1994, he worked for more than 10 years at Federated Investors where he managed more than $25 billion in mutual fund and institutional portfolios in the short-term and investment grade markets. He left the firm as head of institutional fixed income management. Earlier in his career, he held management positions with the Federal Reserve Bank, PNC Financial, Touche Ross, and Rockwell International. Early earned his bachelor’s degree in economics from The Wharton School of the University of Pennsylvania and an MBA with concentrations in finance and accounting from the University of Pittsburgh. He is a member of the CFA Society of Philadelphia.

Ned Gray

Edward A. "Ned" Gray, CFA
Chief Investment Officer — Global and International Value Equity

Ned Gray manages the Global and International Value Equity strategies and has worked with the investment team for more than 20 years. Prior to joining Delaware Investments in June 2005 in his current position, Gray worked with the team as a portfolio manager at Arborway Capital and Thomas Weisel Partners. At ValueQuest/TA, which he joined in 1987, Gray served as a senior investment professional with responsibilities for portfolio management, security analysis, quantitative research, performance analysis, global research, back office/investment information systems integration, trading, and client and consultant relations. Prior to ValueQuest, he was a research analyst at the Center for Competitive Analysis. Gray received his bachelor's degree in history from Reed College and a master of arts in law and diplomacy, in international economics, business and law from Tufts University's Fletcher School of Law and Diplomacy.

Paul Grillo

Paul Grillo, CFA
Co-Chief Investment Officer — Total Return Fixed Income Strategy

Paul Grillo is a member of the firm's taxable fixed income portfolio management team with primary responsibility for portfolio construction and strategic asset allocation. He is also a member of the firm's asset allocation committee, which is responsible for building and managing multi-asset class portfolios. He joined Delaware Investments in 1992 as a mortgage-backed and asset-backed securities analyst, assuming portfolio management responsibilities in the mid-1990s. Grillo serves as lead portfolio manager for the firm's Diversified Income products and has been influential in the growth and distribution of the firm's multisector strategies. Prior to joining Delaware Investments, Grillo served as a mortgage strategist and trader at Dreyfus Corporation. He also worked as a mortgage strategist and portfolio manager at Chemical Investment Group and as a financial analyst at Chemical Bank. Grillo holds a bachelor's degree in business management from North Carolina State University and an MBA with a concentration in finance from Pace University.

Frank Morris

Francis X. Morris
Chief Investment Officer — Core Equity

Francis X. Morris joined Delaware Investments in 1997 as a vice president and portfolio manager, and is currently the chief investment officer for Core Equity investments. He is also a member of the firm's asset allocation committee, which is responsible for building and managing multi-asset class portfolios. Prior to joining the firm, Morris served as vice president and director of equity research at PNC Asset Management. He received a bachelor's degree from Providence College and holds an MBA from Widener University. He is currently a member of the Business Advisory Council of the Providence College School of Business. Morris is a past president of the CFA Society of Philadelphia and is a member of the CFA Institute. He is a former officer of the National Association of Petroleum Investment Analysts.

Ty Nutt

D. Tysen Nutt Jr.
Senior Portfolio Manager, Team Leader — Large Cap Value

D. Tysen Nutt Jr. is senior portfolio manager and team leader for the firm's Large-Cap Value team. Before joining Delaware Investments in 2004 as senior vice president and senior portfolio manager, Nutt led the U.S. Active Large-Cap Value team within Merrill Lynch Investment Managers, where he managed mutual funds and separate accounts for institutions and private clients. He departed Merrill Lynch Investment Managers as a managing director. Prior to joining Merrill Lynch Investment Managers in 1994, Nutt was with Van Deventer & Hoch where he managed large-cap value portfolios for institutions and private clients. He began his investment career at Dean Witter Reynolds, where he eventually became vice president, investments. Nutt earned his bachelor's degree from Dartmouth College, and he is a member of the New York Society of Security Analysts and the CFA Institute.

Bob Zenouzi

Babak "Bob" Zenouzi
Chief Investment Officer — Real Estate Securities and Income Solutions

Bob Zenouzi is the lead manager for the real estate securities and income solutions (RESIS) group at Delaware Investments, which includes the team, its process, and its institutional and retail products, which he created during his prior time with the firm. He also focuses on opportunities in Japan, Singapore, and Malaysia for the firm's global REIT product. Additionally, he serves as lead portfolio manager for the firm's Dividend Income products, which he helped to create in the 1990s. He is also a member of the firm's asset allocation committee, which is responsible for building and managing multi-asset class portfolios. He rejoined Delaware Investments in May 2006 as senior portfolio manager and head of real estate securities. In his first term with the firm, he spent seven years as an analyst and portfolio manager, leaving in 1999 to work at Chartwell Investment Partners, where from 1999 to 2006 he was a partner and senior portfolio manager on Chartwell's Small-Cap Value portfolio. He began his career with The Boston Company, where he held several positions in accounting and financial analysis. Zenouzi earned a master's degree in finance from Boston College and a bachelor's degree from Babson College. He is a member of the National Association of Real Estate Investment Trusts and the Urban Land Institute.