Kass Tapped as Chair, CEO of Jennison Associates

November 11, 2002 (PLANSPONSOR.com) - After a year-long search for a new chairman and chief executive officer, Jennison Associates announced that Dennis Kass would take those posts at the New York investment company.

According to a news media announcement, the appointment of Kass, now vice chairman and chief fiduciary officer for JP Morgan Fleming Asset Management, is effective January 2.

Kass replaces co-founder John Hobbs who announced his departure more than a year ago, the company said. Jennisonis the active equity investment arm of Prudential’s asset management division, Prudential Investment Management (PIM).

In his new role, Kass will also assume Hobbs’ responsibilities in overseeing all of PIM’s public equity business, including its quantitative management team, and will report to Bernard Winograd, president of PIM.

At JP Morgan Fleming Asset Management, Kass was responsible for fiduciary oversight of the firm’s investment and client activities, was a member of the firm’s Global Executive Board, a director of various investment management subsidiaries of JP Morgan Fleming, and devoted much of his time to client relationships,

Kass has a bachelor’s degree in history from Principia College in Elsah, Ill., and a master’s degree in management from the Massachusetts Institute of Technology.

Formed in 1969, Jennison now manages more than $34 billion in equity assets and $11 billion in fixed income as of September 30, 2002.