MacKay Shields & MainStay Investments

Investment Team

Global Fixed Income Team

  • Stephen R. Cianci, CFA

    Industry Experience:
    26 years

  • Neil Moriarty, III

    Industry Experience:
    31 years

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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