Federated Hermes Limited has announced expansion of its sales team, with the appointment of Tara-Grace Dougherty as Director – Business Development, UK & Ireland, focused on Liquidity products including money market funds.
Alongside equity, fixed income, private markets and stewardship capabilities, Federated Hermes provides a range of liquidity solutions, having launched the first mutual fund to use the term “money market” in its name 50 years ago. With assets under management reaching record levels of $560.0bn1, Federated Hermes’ Liquidity products provide investors – including multi-national corporates, pension funds and wealth managers – with low-risk, short-term debt instruments, offering daily liquidity, diversification, exposure to yields and security, while being low cost and efficient.
Effective April 8, 2024, Tara-Grace Dougherty, based in London and reporting to Dan Churchouse, Head of Business Development – UK & Ireland, will be responsible for driving the continued expansion of Federated Hermes Liquidity products for corporate clients, in the UK and Ireland. She will work closely with Kenny Turnbull, Manager – Business Development, Money Markets who remains focused on the sale of Liquidity products to wholesale clients.
Tara-Grace Dougherty joins with nearly two decades of institutional sales and relationship management experience, most recently as Director, Short Term Investment Sales at Scotiabank Global Banking and Markets, where she managed the European deposit and investment desk. Prior to this, Tara-Grace held senior sales and relationship roles at Bank of America Merrill Lynch in both the UK and US markets.
This appointment follows the launch of Federated Hermes’ new European-domiciled liquidity product in June 2023, the Short-Term Euro Prime Fund which sits alongside its Short-Term Sterling Prime Funds. These funds are co-managed by Gary Skedge, Senior Portfolio Manager, and Joanne Bartell, Portfolio Manager, overseen by Deborah Cunningham, Chief Investment Officer of Global Liquidity Markets, and Paige Wilhelm, Senior Portfolio Manager and Head of the Prime Liquidity Group.
Dan Churchouse, Head of Business Development – UK & Ireland at Federated Hermes Limited comments: “As we celebrate the 50th anniversary of our money market funds, we have significant opportunity to continue their growth in markets outside of the US. Tara-Grace brings highly relevant experience and relationships with investors which will enable our clients to benefit from the utility of money markets in the current rate environment.”
Tara-Grace Dougherty, Director – Business Development, UK & Ireland at Federated Hermes Limited adds: “I am delighted to be joining Federated Hermes and helping to drive the next chapter for their market leading money markets business. They have led the way in the industry, navigating various market cycles and have been extremely successful in demonstrating how cash can be a resilient and attractive asset class.”
1 as at December 31, 2023
