Veteran Twin Cities bond-portfolio manager Jane Wyatt is signing on with Advantus Capital Management of St. Paul.
Wyatt left the former Voyageur Asset Management in 1997 to start Bloomington-based Northshore Advisors with Diannah Shurtleff, whom she met in a training program at Cargill in 1976.
Shurtleff has decided to retire to her native Massachusetts. And Wyatt and Shurtleff have sold their $300 million portfolio for an unspecified sum to Advantus, a money manager owned by Securian Financial of St. Paul.
Wyatt said she was approached by Advantus and concluded it would be a good fit.
"Why not end my career with Advantus," Wyatt said Monday. "I appreciate their investment approach and the culture, so here we are."
Chris Sebald, president of Advantus, which has assets of $29 billion, said: "This acquisition adds several key local client relationships, including government operating portfolios, and expands our investment strategy expertise. We got to know Jane and we understand her background, her market knowledge and the relationships she has with her clients. It's a fit with our culture, client service and our investment strategy.''
Wyatt, who manages institutional money, will join Advantus as a client portfolio manager. She will continue to manage client relationships as well as contribute to the overall fixed income strategy approach at Advantus.