Key Takeaways
- • Steve Chiavarone, currently Deputy CIO for Global Equities, will assume the Chief Investment Officer role for Global Equities at Federated Hermes effective September 1, 2026, replacing 24-year veteran Steve Auth who is retiring after 26 years with the firm.
- • Chiavarone brings 21 years of investment experience, including 19 years within Federated Hermes' Global Equities Group, and currently serves as head of the Multi-Asset Group and Senior Equity Strategist responsible for global asset allocation strategies.
- • The promotion signals Federated Hermes' strategic push to expand its active equity management capabilities beyond its historical money-market roots, with the new CIO tasked with overseeing investment processes, portfolio performance attribution, and continued development of equity investment teams.
- • As global equity CIO, Chiavarone will play a central role in articulating the firm's macro-investment positioning to clients and stakeholders while maintaining membership on the Macro Economic Policy and PRISM Asset Allocation committees.
Summary
Federated Hermes has appointed Steve Chiavarone as Chief Investment Officer for Global Equities, effective September 1, 2026. Chiavarone, who currently serves as Deputy CIO for Global Equities, will succeed Steve Auth, a 26-year veteran of the firm who has led the global equity division for 24 years. The promotion represents a continuity-focused leadership transition within the firm's core equity management platform.
Chiavarone brings substantial institutional investment credentials to the role. With 21 years of total investment experience and 19 years specifically within Federated Hermes' Global Equities Group, he has already established deep operational knowledge of the firm's investment infrastructure. Since August 2025, he has served in the Deputy CIO capacity, positioning him as an internal successor. In his current role, Chiavarone leads the firm's Multi-Asset Group and serves as Senior Equity Strategist, overseeing portfolio management and research across global asset allocation strategies—a role he will transition from prior to assuming the CIO position. A replacement for this function will be announced separately.
In his new capacity as CIO for Global Equities, Chiavarone will assume comprehensive responsibility for supervising investment processes, monitoring portfolio performance and attribution analysis across the Global Equities platform, and directing the ongoing development of equity investment teams. The role carries strategic importance beyond day-to-day operations: Chiavarone will play a central role in articulating Federated Hermes' macro-investment positioning to institutional clients, intermediary customers, and market stakeholders. He will maintain involvement in the firm's Macro Economic Policy and PRISM Asset Allocation committees.
John Fisher, Chairman of Federated Advisory Companies—the business unit overseeing Federated Hermes' investment management operations—endorsed the appointment, noting that "Steve brings deep experience across our equity and multi-asset capabilities and a strong understanding of our investment platform." The move underscores Federated Hermes' continued expansion of its active equity management franchise. As a historically dominant player in money-market investing and fixed-income management, the firm has been methodically building its global equities capabilities, positioning equity CIO leadership as a critical strategic role.
Chiavarone brings substantial institutional investment credentials to the role. With 21 years of total investment experience and 19 years specifically within Federated Hermes' Global Equities Group, he has already established deep operational knowledge of the firm's investment infrastructure. Since August 2025, he has served in the Deputy CIO capacity, positioning him as an internal successor. In his current role, Chiavarone leads the firm's Multi-Asset Group and serves as Senior Equity Strategist, overseeing portfolio management and research across global asset allocation strategies—a role he will transition from prior to assuming the CIO position. A replacement for this function will be announced separately.
In his new capacity as CIO for Global Equities, Chiavarone will assume comprehensive responsibility for supervising investment processes, monitoring portfolio performance and attribution analysis across the Global Equities platform, and directing the ongoing development of equity investment teams. The role carries strategic importance beyond day-to-day operations: Chiavarone will play a central role in articulating Federated Hermes' macro-investment positioning to institutional clients, intermediary customers, and market stakeholders. He will maintain involvement in the firm's Macro Economic Policy and PRISM Asset Allocation committees.
John Fisher, Chairman of Federated Advisory Companies—the business unit overseeing Federated Hermes' investment management operations—endorsed the appointment, noting that "Steve brings deep experience across our equity and multi-asset capabilities and a strong understanding of our investment platform." The move underscores Federated Hermes' continued expansion of its active equity management franchise. As a historically dominant player in money-market investing and fixed-income management, the firm has been methodically building its global equities capabilities, positioning equity CIO leadership as a critical strategic role.
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