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Lord Abbett CIO Succession Plan Complete; Robert A. Lee Assumes Top Investment Role

July 1, 2016

JERSEY CITY, NJ – July 1, 2016 – Lord Abbett & Co. LLC (“Lord Abbett”), an independent, privately held investment-management firm, announced that Robert A. Lee, Partner, has assumed the role of Chief Investment Officer. This transition is part of a succession plan announced in 2015, when former CIO Robert I. Gerber communicated his intention to retire after 19 years at the firm. Prior to taking on his new responsibilities, Mr. Lee served as Deputy Chief Investment Officer, reporting to Mr. Gerber.

Regarding Mr. Lee’s background, Daria L. Foster, Managing Partner, said, “Rob is well prepared to take the reins as CIO. He has spent the past 18 years working closely with Bob Gerber. This close working relationship has given Rob the opportunity to hone his management and leadership skills while learning firsthand what it means to serve as Chief Investment Officer.”

During his tenure at Lord Abbett, Mr. Lee has played a key role in the success and development of the Lord Abbett fixed-income franchise. As a leader, he has earned a reputation for delivering consistent investment performance by developing talent and fostering a culture of teamwork and collaboration. “We have complete confidence in Rob,” said Ms. Foster. “Throughout his career at the firm he has demonstrated a unique blend of vision, focus, and humility—making him well suited to lead our investment teams.”

As Chief Investment Officer, Mr. Lee will provide strategic oversight of all the investment, research, and trading teams, in addition to other firm-wide responsibilities. Ms. Foster added, “Under Rob’s guidance, our seasoned professionals will continue to ensure that our clients are well served and supported by a world-class organization that is investment-led and investor-focused.”

About Lord Abbett

Lord Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. Founded in 1929, Lord Abbett is one of the oldest money management firms in the United States, and has forged a culture that is investment-led and investor-focused. Lord Abbett manages approximately $130.3 billion in assets (as of June 30, 2016) across a full range of mutual funds, institutional and separately managed accounts, including $1.4 billion for which Lord Abbett provides investment models to managed account sponsors.

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