Scott Minerd, Guggenheim Partners’ longtime chief investment officer and managing director, died unexpectedly on Wednesday.
His death was the result of a heart attack during his regular workout, according to Guggenheim’s announcement of the news. Minerd was 63 years old.
“I have known Scott for over 30 years, and we were partners much of that time,” Mark Walter, CEO and founder of the firm, said in a statement. “Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today. He will be greatly missed by all.”
Minerd joined Guggenheim shortly after its founding in 1998. A prolific commentator, he helped design Guggenheim’s operations and investment strategy. According to the firm’s announcement of his death, he recruited a number of employees at the firm, many of whom he then mentored.
Minerd grew up in Western Pennsylvania and attended graduate school at the University of Chicago before going to work on Wall Street.
Minerd is survived by his husband, Eloy Mendez, as well as friends and colleagues.
Guggenheim has implemented a succession plan that was designed to deal with unexpected events. Anne Walsh, managing partner and CIO of Guggenheim Partners’ asset management business, will continue in her current role while taking on Minerd’s responsibilities on an interim basis. The firm will continue to be led by its co-presidents, Dina DiLorenzo and David Rone.
According to Guggenheim’s announcement, there will be no disruption of service to clients or change in the daily management process of the company. “Guggenheim’s investment professionals, in tribute to Scott, will continue every day to use the processes and procedures Scott helped build to manage Guggenheim’s client portfolios,” the announcement said. “They will dedicate their ongoing efforts to do so with excellence and fidelity to honor his legacy.”