BNY made the move as part of a firm-wide strategic initiative to expand BNY’s asset management capabilities, according to a news release. In recent years, BNY Asset Management has added Ivy Asset Management, Gannett Welsh & Kotler and Estabrook Capital Management
Heading up the newest addition – formerly of Weiss, Peck & Greer – is C. Lennis Koontz. Koontz will serve as senior portfolio manager. Other members of the team include senior research analysts Yossy Benderly and William Symon, research analyst Lisa DeNicola-Glicksman and portfolio assistant Veronica Mickel.
BNY was impressed by the team’s pedigree, which includes outperforming the Russell 1000 Growth Index by 300 basis points each of the last three years.
“The addition of large cap growth equities provides an important asset class for our institutional clients and reflects our commitment to providing them with a powerful array of high quality investment products and services,” Steven Pisarkiewicz, executive vice president and head of BNY Asset Management said in the release. “We are confident the team will attract strong interest from our institutional clients as they become familiar with the team’s investment philosophy, portfolio construction and management, and overall stock selection capabilities.”