Oppenheimer Names New Head of Fixed Income

January 9, 2009 (PLANSPONSOR.com) - OppenheimerFunds announced that Art Steinmetz has been named Director of Fixed Income, effective immediately.

Steinmetz currently serves as SVP, Head of the International Fixed Income team and portfolio manager of Oppenheimer International Bond Fund and Oppenheimer Strategic Income Fund and will continue in those roles. He is the longest tenured portfolio manager at OppenheimerFunds, and is widely known in the industry for creating Oppenheimer Strategic Income Fund, according to the announcement.

Jerry Webman, the most recent Director of Fixed Income and Chief Economist, will continue in his role as Chief Economist working with advisers and their clients on long-term investing strategies and being a prominent presence for the company in the media, the announcement said.

The heads of all the fixed income areas, including the International Bond team, Leveraged Loan team, Commodities team, Municipal Bond team, Money Market team and Core Plus team will report to Steinmetz.

Oppenheimer said in a recent news report about the Oppenheimer Core Bond Fund losses that it had installed new leadership for the fund’s management team (see College Savings Plans Hit Hard by Oppenheimer Fund Loss ).