Kathryn Glass to lead high-yield fixed-income at Federated Hermes

After four decades of leadership, Mark Durbiano is stepping down as head of the high-yield fixed-income group at Federated Hermes. The firm announced that Kathryn Glass, currently the group's co-head, will assume full oversight of the division on December 31, 2026, marking a transition for the $11 billion portfolio.

Money Talk·June 22, 2026·reads: 2,884

Glass brings 29 years of investment experience to the role, including a 27-year tenure at the Pittsburgh-based firm. Since joining in 1999, she has navigated diverse market cycles, managing strategies across mutual funds, ETFs, and institutional accounts. Her promotion follows a tenure as co-head that began in February 2025, which John Fisher, Chairman of the Federated Advisory Companies, cited as proof of her ability to balance income generation with disciplined risk management.

She takes the helm of a 19-person team that averages 19 years of industry experience. This group oversees $11 billion in US high-yield assets, a key component of the firm's broader $100 billion fixed-income portfolio. Fisher emphasized that the succession plan aims to maintain the firm’s collaborative investment process, ensuring continuity for clients as Durbiano concludes his 44-year career at the company.