Business
Federated Hermes announces promotion of Mark Weiss to head of Prime Liquidity Group
Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, today announced the promotion of Mark Weiss, CFA, senior portfolio manager, to head of the Prime Liquidity Group. The move becomes effective with the retirement of Paige Wilhelm, senior portfolio manager and current head of the group, on July 1, 2026.
About this update from Federated Hermes, Inc.
[{"type":"text","content":"PITTSBURGH, Feb. 2, 2026 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, today announced the promotion of Mark Weiss, CFA, senior portfolio manager, to head of the Prime Liquidity Group. The move becomes effective with the retirement of Paige Wilhelm, senior portfolio manager and current head of the group, on July 1, 2026.","length":365,"tagName":"p"},{"type":"text","content":"Weiss will be responsible for portfolio management and research related to prime money market investment strategies, which represent $242.7 billion in assets, as of Dec. 31, 2025. Prime money market funds and separate accounts invest in portfolios of short-term, high-quality fixed-income securities issued by banks, corporations and the US government. They typically offer higher yields than money market funds and separate accounts that invest primarily in government securities.","length":481,"tagName":"p"},{"type":"text","content":""Mark brings more than 28 years of trading, research and portfolio management expertise to his new role," said John Fisher, president and CEO of Federated Advisory Companies. "He has accumulated a wealth of experience in various analyst and portfolio management responsibilities, and as a senior member of the credit team, he has served as an important resource for the liquidity team and our clients."","length":422,"tagName":"p"},{"type":"text","content":"Weiss currently serves as portfolio manager of 15 portfolios that include mutual funds and other institutional separate account portfolios. His products managed include the $103.5 billion Prime Cash Obligations Fund, the $16.5 billion Institutional Prime Obligations Fund and several local government investment pools.","length":318,"tagName":"p"},{"type":"text","content":"Wilhelm retires after 41 years at Federated Hermes. "Since joining the company in 1985, Paige has overseen our prime funds' growth from a nascent segment of the firm's market franchise to a significant part of our clients' cash-management business," said Fisher. "Her career over four decades spans wide-ranging contributions to money markets, and her mentoring skills have played an invaluable role in growing Federated Hermes' reputation for a team process to diligent credit analysis. We thank her and wish Paige the best on h...