Babson Capital Announces Retirement Of Mark A. Ahmed; Onukwugha, Perenick Named To Lead Private Placement Unit
Springfield -- 06/12/2012 --
Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., today announced the retirement of Managing Director Mark A. Ahmed and named Emeka Onukwugha and Liz Perenick co-heads of the Private Placement team led by Ahmed for the past 14 years.
Mr. Ahmed, who began his career with Babson Capital parent company MassMutual in 1978 as an accountant, transferred to the Corporate Securities Division in 1985 and took over leadership of the Private Placement team in 1998. In addition to leading the growth of the private placement business, he also played an instrumental role in the development and eventual acquisition of MassMutual's equipment financing business, MassMutual Asset Finance.
"Over the course of his exemplary 34-year career, Mark Ahmed's leadership was a critical factor in the growth and performance of Babson Capital's Private Placement team and MassMutual Asset Finance, both of which are appropriately regarded as leaders in their sectors," said Michael P. Hermsen, Managing Director and head of Babson Capital's Global Private Finance Group. "Thanks to the deep and talented Private Placement team that Mark worked so hard to develop, we expect a smooth and seamless transition as the team moves forward under the leadership of Emeka Onukwugha and Liz Perenick."
Mr. Onukwugha joined MassMutual in 1998 from Fleet Financial Group, where he had worked in the commercial and industrial lending group. Ms. Perenick joined MassMutual in 1999 from CIGNA's Private Securities Division, with previous experience as a pension and actuarial analyst and senior portfolio analyst for CIGNA Investment Management.
As part of the transition resulting from Mr. Ahmed's retirement, MassMutual Asset Finance CEO Dave Coutu will begin reporting to Mr. Hermsen. In addition, Mr. Onukwugha and Ms. Perenick will join MassMutual Asset Finance's investment committee.
Mr. Ahmed's retirement was effective June 8.
About Babson Capital Management LLC
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $181 billion in assets under management as of March 31, 2013. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternative, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, Cornerstone Real Estate Advisers LLC in Hartford, Conn. and Wood Creek Capital Management in New Haven, Conn. Babson Capital is a member of the MassMutual Financial Group.