Federated Hermes Appoints Kathryn Glass as New Head of Domestic High Yield Group

Federated Hermes (FHI), a prominent global leader in investment management, announces the appointment of Kathryn (Katie) Glass, CFA, as the new head of its Domestic High Yield Group. This transition comes with the upcoming retirement of Mark Durbiano after a remarkable 44 years at the firm, effective December 31, 2026. Glass is no stranger to investment management, boasting 29 years of industry experience, 27 of which has been with Federated Hermes. Since February 2025, she has functioned as co-head of the team and is set to assume full leadership and responsibility for the group, known for its adept management of U.S. high-yield fixed income strategies totaling approximately $11 billion. Durbiano’s legacy in the firm highlights the importance of succession planning in maintaining continuity within the organization as well as a commitment to their collaborative investment strategies.

Leadership Transition Paves the Way for Continued Success

The Domestic High Yield Group at Federated Hermes comprises 19 seasoned professionals, all with an impressive average tenure of 19 years in the investment realm. This team has been pivotal in steering the firm's high-yield investments through various market cycles, achieving risk-adjusted results under Durbiano’s leadership. John Fisher, Chairman of the Federated Advisory Companies, commends Glass’ profound understanding of high-yield investments, signaling confidence in her ability to navigate the challenges ahead. The promotion aligns perfectly with the firm’s structured succession planning, ensuring not just leadership stability but also the continuity of its value-driven investment processes.

A Firm Committed to Growth and Adaptation

Federated Hermes manages an expansive total of $907.1 billion in assets and serves over 11,000 institutions and intermediaries worldwide. Based in Pittsburgh, and with a workforce exceeding 2,000 professionals across major financial centers including London and New York, the firm continues to solidify its position as an investment provider focusing on diverse solutions. Following this significant leadership change, stakeholders will be keen to observe how Glass’ stewardship impacts the Domestic High Yield Group's strategies and performance in the evolving investment landscape.

Innovating Income Solutions Through New Offerings

Moreover, Federated Hermes recently launched the Federated Hermes Ultrashort Bond ETF (CBOE: FUSD), targeting investors seeking attractive income amidst fluctuating interest rates. This ETF primarily invests in investment-grade debt securities and aims to limit interest rate risk by maintaining a portfolio duration of one year or less. CEO Paul A. Uhlman emphasizes the ETF’s role as a disciplined alternative to traditional cash, reflecting the firm's expansive strategies to cater to client needs in a challenging market.

Commitment to Innovation in a Dynamic Market

As Federated Hermes continues to diversify its offerings, the launch of the Ultrashort Bond ETF is expected to further enhance the firm’s reputation for providing reliable income solutions, particularly appealing to conservative investors wary of equities. The company’s commitment to innovation and adaptability remains evident as it responds to the ever-changing financial landscape.