Vega Asset Management and Azimuth Trust today announced that David W. Mullins, Jr., in addition to his responsibilities at Azimuth Trust, will serve as Vega’s Chief Economist. In this role, Mullins will help Vega formulate its economic views and represent the firm at senior levels of the investment and regulatory community. Mullins will continue in his primary position as Managing Director and Chief Economist at Azimuth Trust, where he will commit the majority of his time. He will also continue to serve as a full time member of Azimuth Trust’s investment committee.
“David’s track record in academia, the Fed, and in the private sector gives him a macro-economic insight unparalleled in this industry,” says Jonathan Berg, Chief Executive Officer of Vega. “Having David serve as an integral part of our team while he also remains with Azimuth makes a great deal of sense for both of our organizations, as we have a close working relationship and coordinate in a variety of areas in the alternative assets sector.”
Steven Gluckstern, Chief Executive Officer of Azimuth Trust said, “We are pleased to work closely with Vega as we identify and pursue attractive global alternative investment opportunities. By sharing our unique outlooks on the global economy, we can both better formulate strategies to generate returns for our respective investors. We expect David will contribute significantly to Vega and will continue to be a vital member of our Azimuth team.”
“Driven by extensive market knowledge and an entrepreneurial spirit, Vega has established an impressive track record and today is one of the most successful firms in the industry,” said David Mullins. “I am excited about the opportunity to complement my activities at Azimuth Trust by working with and advising the talented team of professionals at Vega.”
Prior to joining Azimuth Trust, Mullins was a founding principal at Long-Term Capital Management (LTCM) where he was involved in a wide range of relative value and directional strategies in equity and fixed income of the United States, Europe, and Japan. He was also cofounder of LTCM’s Asian investment business. Earlier Mullins served as Vice Chairman and Governor of the Board of Governors of the Federal Reserve System, where he focused on monetary policy, banking policy, and financial markets.
Before this, Mullins was the Assistant Secretary for Domestic Finance at the U.S. Department of the Treasury, where he played a significant role in developing the plan to address the savings and loan crisis. In this position, he was responsible for policy related to Treasury debt issuance, federal finance, financial institutions, securities markets, corporate finance, and government sponsored enterprises. After the 1987 stock crash, Mullins was associate director of the Brady Commission and was a principal author of the commission report.
From 1974 through 1990, Mullins was a Professor at the Graduate School of Business Administration of Harvard University and taught corporate finance and capital markets in the MBA, Doctoral, and Executive programs. He also served as Chairman of Harvard’s Executive Program for senior financial executives.
Mullins holds a Ph.D. in Finance and Economics, an S.M. in Finance, both from the Massachusetts Institute of Technology, an M.A. (Hon.) from Harvard University, and a B.S. from Yale University.