Guggenheim Investments Hires Penny Zuckerwise as Head of Institutional Distribution

Industry Veteran Will Expand Guggenheim's Global Institutional Distribution and Consultant Relations Efforts

New York, New York, UNITED STATES

NEW YORK, Oct. 26, 2011 (GLOBE NEWSWIRE) -- Guggenheim Investments, a leading asset manager, announced today that Penny Zuckerwise has been named Head of Institutional Distribution. Zuckerwise will be responsible for the expansion of the firm's global institutional distribution business as well as consultant and client relationship management.

"As we methodically grow our asset management business, it was clear that a next logical step was bringing on a veteran of Penny's stature to help us expand our existing institutional relationships and build new ones both directly and through the consultant community," said Todd Boehly, president of Guggenheim Partners and head of Guggenheim Investments. "Penny's experience and counsel will be invaluable to the clients we serve and to the firm as a whole as we continue to build out a world-class investment management firm."

Zuckerwise has more than 30 years of asset management industry experience. Prior to joining Guggenheim Investments, Zuckerwise served as chief executive officer of Russell Investments' Americas Institutional Division, where she managed the business and was a member of the Russell Executive Committee and Global Risk Management Committee. She has also held senior positions at a number of firms including: president and chief executive officer of Utendahl Capital Management, L.P.; president and chief operating officer of Chancellor LGT Asset Management; and, president, chief operating officer and chief administrative officer of Chancellor Capital Management (formerly Citicorp Investment Management, Inc.).

"I am absolutely delighted to be joining such a dynamic and growing firm that has been able not only to provide its clients with a broad array of innovative institutional-quality products, but to do so with impeccable risk management and market foresight," stated Zuckerwise. "These controls and the discipline of the investment teams under chief investment officer Scott Minerd, have enabled many of the firm's strategies to outperform their benchmarks through some of the most difficult market environments many of us have ever seen. It is precisely this type of investment prowess that attracted me to the firm and I look forward to bringing the firm's products and expertise to a host of new institutional clients."

"Penny is the right person at the right time for this important position given Guggenheim Investments' institutional growth," said Scott Minerd, chief investment officer of Guggenheim Partners. "The partnership approach we take with our clients and the investment philosophy of the firm are both fully embraced by Penny. She understands the investment objectives of our clients and our focus on working with them to develop strategies that seek to produce superior investment performance."   

Guggenheim Investments

Guggenheim Investments is the investment management business of Guggenheim Partners. With assets exceeding $115 billion*, we have a long, distinguished history of serving institutional investors, ultra-high-net-worth individuals, family offices and financial intermediaries. We offer clients a wide range of differentiated capabilities built on a proven commitment to investment excellence. Guggenheim Investments has offices in Chicago, New York and Santa Monica along with a global network of offices throughout the United States, Europe, and Asia. 

* Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC ("GP"). The following businesses comprise Guggenheim Investments: Security Investors, LLC (SI), doing business as Security Global Investors® and Rydex Investments; Guggenheim Partners Asset Management, LLC, ("GPAM"); Guggenheim Investment Management, LLC, ("GIM"); Guggenheim Funds Investment Advisors, LLC; Guggenheim Funds Distributors, Inc.; Guggenheim Aviation; GS GAMMA Advisors, LLC; Guggenheim Real Estate, LLC; Guggenheim Structured Real Estate; Guggenheim Partners Europe; Claymore Investments, Inc.; Transparent Value Advisors, LLC and Guggenheim Partners India Management. This material is intended to inform you of services available through Guggenheim Investments' affiliate businesses. Asset figure is based upon the best available information as of 9/30/2011 and consists of assets under management and serviced assets of the various asset managers comprising Guggenheim Investments. The total asset figure includes $8.7B of leverage for assets under management and $0.8B of leverage for serviced assets.

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