Evergreen appoints DeSantis as chief investment officer, will oversee high-yield debt

By Jennifer Chiou

New York, July 25 - Evergreen Investments is redefining its equity team structure to create two divisions, including a fundamental equity team focused on high-yield debt and equity, from one group.

The company hired Joseph DeSantis for the newly created role of chief investment officer of the fundamental equity team.

The other division is global structured products, which will focus on a quantitative approach to asset management, including indexed and enhanced indexed equity products.

Evergreen said it is promoting William E. Zieff to chief investment officer of global structured products.

"We are structuring our equity management teams to reflect our core competencies in both quantitatively driven equity as well as more traditional, fundamentally oriented equity products," chief investment officer Christopher Conkey said in a news release.

"We believe this structure positions Evergreen well within a marketplace led by long-term demand for both enhanced index products as well as less index-oriented, more absolute-return focused product."

DeSantis will oversee a team of 85 portfolio managers, analysts and traders responsible for over $25 billion of mutual fund and institutional separate account assets.

Previously, he was managing director and head of active equities for the Americas at Deutsche Asset Management.

"Joe's broad-based knowledge and experience working with investment professionals at leading global asset management firms in his career will greatly enhance Evergreen's fundamental equity capabilities going forward," Conkey said in the release.

Based in Boston, Evergreen Investments is an asset management firm under which Wachovia Corp. conducts its investment management business.

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