Federated Hermes, Inc. (NYSE:FHI) Q2 2022 Earnings Conference Call July 29, 2022 9:00 AM ET
Company Participants
Ray Hanley - President, Federated Investors Management Company
Chris Donahue - President and Chief Executive Officer
Tom Donahue - Chief Financial Officer
Saker Nusseibeh - Chief Executive Officer, Federated Hermes Limited
Debbie Cunningham - Chief Investment Officer
Conference Call Participants
Patrick Davitt - Autonomous Research
Dan Fannon - Jefferies
Kenneth Lee - RBC Capital Markets
Ken Worthington - JPMorgan
Michael Brown - KBW
John Dunn - Evercore ISI
Operator
Good day ladies and gentlemen and welcome to the Federated Hermes Q2 2022 Analyst Call and Webcast. [Operator Instructions] It is now my pleasure to turn the floor over to your host, Ray Hanley, President of Federated Investors Management Company. Sir, the floor is yours.
Ray Hanley
Good morning and welcome. Leading today’s call will be Chris Donahue, Federated’s CEO and President – Federated Hermes CEO and President; and Tom Donahue, Chief Financial Officer. And joining us for the Q&A are Saker Nusseibeh who is the CEO of Federated Hermes Limited, our international business; and Debbie Cunningham, Chief Investment Officer for the money markets.
During today’s call, we may make forward-looking statements and we want to note that Federated Hermes’ actual results maybe materially different than the results implied by such statements. Please review our risk disclosures in our SEC filings. No assurance can be given as to future results and Federated Hermes assumes no duty to update any of these forward-looking statements. Chris?
Chris Donahue
Thank you, Ray. Good morning, all. I will review Federated Hermes business performance. Tom will comment on our financial results. Last week, we proudly announced the agreement to acquire C.W. Henderson and Associates, Inc., a Chicago-based registered investment adviser with more than three decades of experience specializing in the management of tax-exempt municipal securities in SMA products. C.W. Henderson manages approximately $3.6 billion in assets. The expected addition will enhance and complement our existing muni team and strategies, where we manage about $13 billion at the end of the second quarter. It will also enhance our overall SMA business, where we currently manage about $26.5 billion in 35 equity and fixed income strategies. The transaction is expected to close in the third quarter and we welcome all of the employees of C.W. Henderson to Federated Hermes and look forward to working together to develop growth opportunities and to continue to provide outstanding performance in customer service.