PITTSBURGH, June 22, 2026 /PRNewswire/ -- Federated Hermes, a global leader in active investing, today announced that Kathryn (Katie) Glass, CFA, senior portfolio manager and current co-head of the Federated Hermes Domestic High Yield Group, will become head of the group following the retirement of Mark Durbiano, CFA, effective December 31, 2026, after 44 years with Federated Hermes.

As head of the high-yield group, Glass will draw upon her 29 years of investment experience as she assumes all leadership and investment oversight responsibilities for the team. She has been co-head of the group since February 2025 and has been an integral member of Federated Hermes' domestic high-yield sector for 27 years. Since joining Federated Hermes in 1999, Glass has provided investment management across a range of high-yield investment strategies and offerings spanning mutual funds, collective investment trusts, exchange-traded funds (ETFs), subadvised portfolios and institutional separate accounts.

"Katie brings extensive experience in high-yield investment management and a strong understanding of our range of investment offerings," said John Fisher, Chairman of the Federated Advisory Companies, the Federated Hermes investment advisory subsidiaries. "Her appointment reflects her experience as co-head as well as her long-term demonstrated capabilities in actively managing through multiple market cycles to balance income generation and risk management in high-yield investment portfolios."

"The appointment is part of the successful execution of our long-established investment management succession plan," Fisher said. "Katie will continue Federated Hermes' collaborative investment process, which has produced strong, risk-adjusted results in high-yield strategies."

Glass will manage a deep and experienced high-yield fixed-income team for Federated Hermes' range of high-yield offerings. The 19-person team averages 19 years of industry experience and 16 years at Federated Hermes. The group manages approximately $11 billion in US high-yield fixed income strategies, as part of the firm's $100 billion in fixed-income assets as of March 31, 2026.

Federated Hermes, Inc. (NYSE:FHI) is a global leader in active investment management, with $907.1 billion in assets under management, as of March 31, 2026. 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 11,000 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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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.

Past performance is no guarantee of future results. Investments are subject to risks and fluctuate in value.

Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices. High-yield, lower-rated securities generally entail greater market, credit/default and liquidity risks and may be more volatile than investment-grade securities.

For more complete information, visit FederatedHermes.com/us or contact your investment professional for summary prospectuses or prospectuses. You should consider the fund's investment objectives, risks, charges and expenses carefully before you invest. Information about these and other important subjects is in the fund's summary prospectus or prospectus, which you should read carefully before investing.

Separately managed and institutional separate 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 Federated Hermes mutual funds and ETFs.

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SOURCE Federated Hermes, Inc.

Federated Hermes names Kathryn Glass as the next head of its high-yield fixed-income group