(PITTSBURGH, Pa., May 7, 2026) — Federated Hermes, Inc. (NYSE: FHI), a global leader in active
investing, today announced that Steve Chiavarone, CFA, will become Chief Investment Officer
(CIO) for Global Equities effective Sept. 1, 2026, following Steve Auth’s decision to retire after 26
years with the firm, including 24 years as global equity CIO. Chiavarone currently serves as Deputy
CIO for Global Equities.
As CIO for Global Equities, Chiavarone will be responsible for supervising investment processes,
overseeing portfolio performance and attribution across the firm’s Global Equities platform and the
continued development of the investment teams. He will also help oversee all aspects of the
investment process across a diverse range of offerings and play a central role in articulating
Federated Hermes’ macro‑investment positioning to clients, intermediary customers and other
stakeholders.
Chiavarone brings 21 years of investment experience, including 19 years in Federated Hermes’
Global Equities Group, and has served as Deputy CIO since August 2025. He is head of the firm’s
Multi‑Asset Group and Senior Equity Strategist, responsible for portfolio management and research
across global asset allocation strategies, a role he will transition off ahead of becoming global
equity CIO. A replacement will be announced in due course. He will remain a member of the
Federated Hermes Macro Economic Policy and PRISM® Asset Allocation committees.
Steve Auth’s tenure as CIO was marked by the development of the firm’s equities investment
structure, including the establishment of centers of excellence across strategies and geographies,
enhanced proprietary research and portfolio risk management, and the continued growth of the
platform. Under his leadership, the equities franchise expanded significantly in scale and global
reach, managing $100.8 billion of client assets as of March 31, 2026.
Auth and Chiavarone will undertake an orderly transition of responsibilities between today and
Sept. 1, 2026. Under Steve Chiavarone’s leadership, the Global Equities group will continue to
operate with the same investment principles, collaborative culture and long‑term focus that clients
and intermediary customers have come to expect.
Federated Hermes’ Global Equities group manages investor assets across equity, alternative, and multi‑asset strategies offered through mutual funds, exchange‑traded funds (ETFs), collective investment funds (CITs), institutional separate accounts, separately managed accounts (SMAs), and UCITS funds. The global equity investment organization comprises 156 professionals, with an average of 19 years of investment experience and 12 years at Federated Hermes.
Steve brings deep experience across our equity and multi‑asset capabilities and a strong
understanding of our investment platform. His appointment reflects successful execution of our long-established succession plan, the strength of our internal talent and our continued focus on investment discipline and seeking
long‑term outperformance for our clients.
John Fisher, Chairman of Federated Advisory Companies, the Federated Hermes business unit that oversees the firm’s investment management areas
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