New York-based investment management firm MD Sass has added two new senior portfolio managers. Melissa S Sheer has joined as a Vice President in its Tax-Exempt Fixed Income Division, and Mark Crawley has joined as a Director of MD Sass affiliate Waterfall Asset Management, whose specialty is the management of high-yield asset-backed securities.
Sheer's responsibilities include analyzing and managing tax-exempt fixed income securities. Previously, she worked at Morgan Stanley and Company as Vice President and Senior Portfolio Manager of separately managed tax-exempt fixed income portfolios for clients of the Global Wealth Management Division and the Morgan Stanley Trust Company. She also has held fixed income portfolio management positions at Neuberger Berman Inc. and JP Morgan Private Bank. Sheer received her MBA from New York University and her undergraduate degree from Columbia University's Barnard College.
Crawley will focus on research and trading of high yield asset-backed securities. He was previously responsible for the capital markets advisory effort at Pentalpha Capital Group, where he advised its hedge fund, private equity, and investment banking clients in the acquisition, valuation, and disposition of distressed and subordinate assets. Crawley holds a BS in Business Administration from the University of Vermont and is a Chartered Financial Analyst.
MD Sass and its affiliates have more than USD 11 billion in assets under management and employ 120 people. The firm offers both traditional and alternative investment strategies in the form of private equity funds, hedge funds, and substantial separately managed accounts. Its clients include major corporations, financial institutions, state and local governments, endowment funds, foundations, Taft-Hartley funds, and high net worth individuals.