Federated Hermes announces promotion of Mark Weiss to head of Prime Liquidity Group

Rhea-AI Summary

Federated Hermes (NYSE: FHI) promoted Mark Weiss to head of the Prime Liquidity Group, effective with Paige Wilhelm's retirement on July 1, 2026. Weiss will manage prime money market strategies representing $242.7 billion in assets as of Dec. 31, 2025.

The firm reported $682.6 billion in money market assets and $902.6 billion in AUM as of Dec. 31, 2025, and said the investment team includes 34 professionals averaging 22 years' experience.

Positive

• Weiss to manage $242.7B in prime money market assets
• Prime Cash Obligations Fund under his oversight totals $103.5B
• Clear succession date: July 1, 2026 for leadership transition

Negative

• Leadership transition removes Paige Wilhelm after 41 years, risking loss of institutional knowledge

News Market Reaction – FHI

-1.71%

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-1.71% News Effect

On the day this news was published, FHI declined 1.71%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

PITTSBURGH, Feb. 2, 2026 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, today announced the promotion of Mark Weiss, CFA, senior portfolio manager, to head of the Prime Liquidity Group. The move becomes effective with the retirement of Paige Wilhelm, senior portfolio manager and current head of the group, on July 1, 2026.

Weiss will be responsible for portfolio management and research related to prime money market investment strategies, which represent $242.7 billion in assets, as of Dec. 31, 2025. Prime money market funds and separate accounts invest in portfolios of short-term, high-quality fixed-income securities issued by banks, corporations and the US government. They typically offer higher yields than money market funds and separate accounts that invest primarily in government securities.

"Mark brings more than 28 years of trading, research and portfolio management expertise to his new role," said John Fisher, president and CEO of Federated Advisory Companies. "He has accumulated a wealth of experience in various analyst and portfolio management responsibilities, and as a senior member of the credit team, he has served as an important resource for the liquidity team and our clients."

Weiss currently serves as portfolio manager of 15 portfolios that include mutual funds and other institutional separate account portfolios. His products managed include the $103.5 billion Prime Cash Obligations Fund, the $16.5 billion Institutional Prime Obligations Fund and several local government investment pools.

Wilhelm retires after 41 years at Federated Hermes. "Since joining the company in 1985, Paige has overseen our prime funds' growth from a nascent segment of the firm's market franchise to a significant part of our clients' cash-management business," said Fisher. "Her career over four decades spans wide-ranging contributions to money markets, and her mentoring skills have played an invaluable role in growing Federated Hermes' reputation for a team process to diligent credit analysis. We thank her and wish Paige the best on her retirement."

As of Dec. 31, 2025, Federated Hermes manages $682.6 billion in money market assets, while the investment management team comprises 34 investment professionals who average 22 years of industry experience and 22 years at Federated Hermes.

Federated Hermes, Inc. (NYSE: FHI) is a global leader in active investment management, with $902.6 billion in assets under management, as of Dec. 31, 2025. We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies to more than 10,000 institutions and intermediaries worldwide. Our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has more than 2,000 employees in London, New York, Boston and offices worldwide. For more information, visit FederatedHermes.com/us.

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All asset figures are as of Dec. 31, 2025.

Certain statements in this press release, such as those relating to succession plans, retirement date, effective dates, and the ability to maintain investment processes, may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Other risks and uncertainties include the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission and in each fund's registration statement (e.g., prospectus and statement of additional information). As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness, or updating, of such statements in the future.
Separately managed accounts are made available through Federated Global Investment Management Corp., Federated Investment Counseling, Federated MDTA LLC, Hermes Fund Managers Ireland Limited, Hermes Investment Management Limited, and Hermes GPE LLP, each a registered investment advisor in one or more of the U.S., U.K. or Ireland.

Federated Securities Corp. is distributor of the U.S. registered Federated Hermes Funds.

View original content:https://www.prnewswire.com/news-releases/federated-hermes-announces-promotion-of-mark-weiss-to-head-of-prime-liquidity-group-302676724.html

SOURCE Federated Hermes, Inc.

FAQ

Who is the new head of Federated Hermes' Prime Liquidity Group (FHI) and when does the change take effect?

Mark Weiss is the new head, effective upon Paige Wilhelm's retirement on July 1, 2026. According to Federated Hermes, Weiss succeeds Wilhelm and will assume portfolio management and research responsibilities for the prime liquidity group.

How much in prime money market assets will the new head manage at Federated Hermes (FHI)?

Weiss will oversee $242.7 billion in prime money market assets as of Dec. 31, 2025. According to Federated Hermes, these strategies include funds and separate accounts invested in short-term, high-quality fixed-income securities.

Which specific Federated Hermes prime funds will Mark Weiss manage after the promotion (FHI)?

Weiss currently manages the $103.5B Prime Cash Obligations Fund and the $16.5B Institutional Prime Obligations Fund among others. According to Federated Hermes, he serves as portfolio manager for 15 portfolios including mutual funds and institutional separate accounts.

What is Federated Hermes' total money market assets and overall AUM reported as of Dec. 31, 2025 (FHI)?

Federated Hermes reported $682.6 billion in money market assets and $902.6 billion in total assets under management as of Dec. 31, 2025. According to Federated Hermes, these figures reflect consolidated liquidity and broader investment management businesses.

Why is the leadership change at Federated Hermes' Prime Liquidity Group material to investors in FHI?

The change matters because the role oversees large prime strategies totaling $242.7B, affecting liquidity management and client cash products. According to Federated Hermes, the succession includes a set retirement date and continuity via an experienced internal portfolio manager.