MacKay Shields & MainStay Investments

Investment Team

Global Fixed Income Team

  • Dan C. Roberts, PhD
    Executive Managing Director, Head of Global Fixed Income

    Dan C. Roberts is an Executive Managing Director, Head of Global Fixed Income (GFI) and its Chief Investment Officer. His responsibilities include spearheading macro-economic research, managing portfolios that utilize asset allocation, chairing GFI’s Investment Policy Committee (IPC), and serving on the firm’s Senior Leadership Team. Directing the IPC is Dan’s most important investment responsibility as this Committee is the foundation of the GIF team-based approach to managing portfolios. It sets all portfolio strategy within the context of the team’s macro view and monitors compliance with its decisions. No significant positions are taken in any portfolio without the approval of the IPC. The IPC’s voting members are GFI’s four most senior investment professionals, who have worked together for nearly two decades.

    Dan joined MacKay Shields in 2004 when the firm acquired the fixed income business of Pareto Partners, where he had served as Chief Investment Officer. Dan first began assembling his team in 1989, when he was appointed head of fixed income at UBS Asset Management. In 1997 the team joined Forstmann-Leff International and was subsequently purchased by Pareto Partners in 2000. Prior to UBS, Dan worked at Chase Manhattan Bank, initially as a Financial Economist before being named head of Global Interest Rate and Currency Swaps Trading.

    Before joining the private sector, Dan served at The White House with the President’s Council of Economic Advisors from 1981 to 1983, was the Chief of Staff of the U.S. Congress’ Joint Economic Committee from 1984 to 1985 and was an economist at the U.S. Securities and Exchange Commission from 1977 to 1978.

    Dan holds a BBA and a PhD from University of Iowa. He has been working in the investment industry since 1977.

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  • Louis N. Cohen, CFA
    Senior Managing Director

    Louis N. Cohen, CFA, is a Senior Managing Director and Senior Portfolio Manager for the Global Fixed Income Team. Lou joined MacKay Shields in 2004 and is a voting member of the Global Fixed Income Investment Policy Committee. His duties include being the lead portfolio manager for portfolios utilizing asset allocation strategies such as Core/Core Plus. In addition to managing Core Plus portfolios, Lou also manages leveraged loans and oversees all dedicated corporate portfolios. Lou has been with Dan Robert’s team since 1991 when he joined UBS Asset Management as a Core/Core Plus portfolio manager, where he also served as Director of Research and co-chaired the Credit Committee. Lou’s extensive credit experience began at Bankers Trust in 1978 in that firm’s Commercial Banking Department. In 1981, he moved to Kidder Peabody as a fixed income Credit Analyst. Prior to joining Dan at UBS Asset Management, he also served as a fixed income credit manager at several notable Wall Street firms, including Shearson, Drexel Burnham Lambert and Paine Webber.

    Lou received his BA and MBA from New York University and is a CFA charterholder. He is past President of the Capital Markets Credit Analyst Society and a member of the New York Society of Security Analysts. He has been working in the investment industry since 1978.

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  • Michael J. Kimble, CFA
    Senior Managing Director

    Michael J. Kimble, CFA, is a Senior Managing Director and Senior Portfolio Manager for the Global Fixed Income Team. Michael joined MacKay Shields in 2004 and is a voting member of the Global Fixed Income Investment Policy Committee. His duties include being the lead portfolio manager for global high yield and high yield opportunities portfolios, and directly overseeing all emerging market portfolios.

    Michael first became a part of the team in 1989 when Dan Roberts brought him to UBS Asset Management to manage high yield bond portfolios. As credit markets have developed over time Michael has effectively adapted the group’s philosophy and approach to newer markets such as European high yield and emerging markets. Michael began his investment career as a fixed income credit analyst at Citicorp and E.F. Hutton. In 1988, he moved to Home Insurance Company as a High Yield Bond Analyst and Portfolio Manager. Shortly thereafter, he was recruited by Dan Roberts to join the fixed income team at UBS Asset Management in the same capacity.

    Michael received a BA from Columbia University, an MBA from New York University, a JD from Fordham School of Law and an ADP from the London Business School. He is also a CFA charterholder. Michael is a member of the Capital Markets Credit Analyst Society, the New York Society of Security Analysts and the New York and Louisiana State Bar Associations. He has been working in the investment industry since 1984

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High Yield Team

  • Andrew Susser
    Executive Managing Director, Head of High Yield

    Andrew Susser is Executive Managing Director and Head of High Yield, responsible for managing the group’s implementation of its investment process. In addition to his management responsibilities, Andrew follows the gaming, retail and food sectors. Prior to joining MacKay Shields in 2006, he was a Portfolio Manager with GoldenTree Asset Management. Prior to that, he was a Managing Director and Head of High Yield Bond Research at Banc of America Securities covering the gaming, lodging and leisure sectors. From 1999 to 2004, Andrew was named to the Institutional Investor All-America Fixed Income Research Team; from 2002 to 2004, he was ranked by Institutional Investor as the No. 1 analyst in the high yield sector. Andrew has worked as a Fixed Income Analyst for Salomon Brothers, as a Senior Analyst at Moody’s Investors Service and as a Market Analyst and Institutional Trading Liaison for Merrill Lynch Capital Markets. He began his career as a Corporate Finance and M&A attorney at Shearman & Sterling in its New York office.

    Andrew earned a BA from Vassar College, an MBA from the Wharton Graduate School of Business and a JD from the University of Pennsylvania Law School. He has worked in the investment industry since 1986.

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Municipal Managers

  • Robert A. DiMella, CFA
    Executive Managing Director, Co-Head of Municipal Managers

    Robert DiMella is an Executive Managing Director and Co-Head of Municipal Managers, which he manages jointly with John Loffredo. Together they oversee all aspects of the group’s business, including oversight of portfolio management and research, as well as client relationships and product development. He is a member of the firm’s Senior Leadership Team. Robert has been a municipal portfolio manager and/or municipal analyst since 1993, with a broad range of experience in portfolio management and research in the municipal markets. He joined MacKay Shields in July 2009 when the firm acquired the assets of Mariner Municipal Managers LLC, where he served as President and co-founder from 2007 to 2009. From 2006 to 2007, he was a Managing Director and Co-Head of BlackRock’s Municipal Portfolio Management Group. Prior to BlackRock’s merger with Merrill Lynch Investment Managers, he served as a Senior Portfolio Manager and Managing Director of Merrill Lynch’s Municipal Products Group, where he worked from 1993 to 2006.

    Robert earned his MBA at Rutgers University Business School and BS at the University of Connecticut. He is a CFA charterholder. He has been working in the investment industry since 1989.

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  • John M. Loffredo, CFA
    Executive Managing Director, Co-Head of Municipal Managers

    John Loffredo is an Executive Managing Director and Co-Head of Municipal Managers, which he manages jointly with Robert DiMella. Together they oversee all aspects of the group’s business, including oversight of portfolio management and research, as well as client relationships and product development. He is a member of the firm’s Senior Leadership Team. John has been a municipal portfolio manager and/or municipal analyst since 1988, with a broad range of portfolio management and analytic experience in the municipal markets. John joined MacKay Shields in July 2009 when the firm acquired the assets of Mariner Municipal Managers LLC, where he served as Chairman and co-founder from 2007 to 2009. John served as a Managing Director and Co-Head of BlackRock’s Municipal Portfolio Management Group from 2006 to 2007. Prior to BlackRock’s merger with Merrill Lynch Investment Managers, he served as Chief Investment Officer of the Municipal Products Group. He was employed by Merrill Lynch from 1990 to 2006. Prior to Merrill Lynch, he worked for the City of Boston Treasury Department.

    He graduated with a MBA and Certificate of Public Management from Boston University and with a BA (cum laude) from Utah State University, where he was a Harry S. Truman Scholar. He is a CFA charterholder. He has been working in the investment industry since 1987.

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Convertibles Team

  • Edward Silverstein, CFA
    Senior Managing Director, Head of Convertibles

    Edward Silverstein is a Senior Managing Director and Head of Convertibles, where he oversees the management and research of the firm’s Convertible strategy. He is a member of the firm’s Advisory Committee. Edward joined MacKay Shields as a Research Analyst in 1998, becoming a Portfolio Manager/Research Analyst in 1999. Prior to joining MacKay Shields, he worked as a Portfolio Manager and Law Clerk at the Bank of New York. He also interned at the New York Stock Exchange Enforcement Division.

    He has a BS from the University of Vermont, an MBA from the Baruch College and a JD from Brooklyn Law School. He is a CFA charterholder and also a member of the New York State Bar. He authored, Wise Up!: A Portfolio Manager's Guide to Better Investment Decisions. He has been working in the investment industry since 1995.

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