Hood will replace Ed Johnson, Advent’s current COO and will spearhead the wealth manager operations in the region, the firm said.
Advent president and chief investment officer Tracy Maitland said, "Throughout his time at Advent, Ed was an important resource to us as we developed and leveraged our institutional quality infrastructure and operational processes to grow the business into one of the largest global firms focused on convertible securities with an emphasis on credit and high yield debt."
Having three decades of experience in financial industry including high yield, credit products and convertible securities expertise, Hood will be responsible to improve Advent’s client relationships and market positioning.
While working with MacKay Shields, Hood oversaw the growth of assets under management from $35bn to nearly $48bn at the time of his departure and implemented institutional processes and procedures while expanding marketing and growth opportunities.
Before MacKay Shields, Hood acted as Pioneer Investments US’s chief executive officer and president from 2003 to 2006 and chief operating officer from 2000 to 2003, where he oversaw the growth from nearly $19bn to close to $70bn at the time of his departure.
