Patrick McElroy to Become Portfolio Manager on Tactical Dividend Income Team

ClearBridge Investments has named Patrick McElroy, CFA a portfolio manager on the Tactical Dividend Income Strategy effective August 1, 2022. Pat joins portfolio managers Peter Vanderlee, CFA and Mark McAllister, CFA. McAllister, who has managed the Tactical Dividend Income Strategy since 2012, is anticipated to retire on or about December 31st, 2022. Vanderlee, who has also managed the Strategy since 2012, will remain a co-portfolio manager.

McElroy joined ClearBridge in 2007, bringing a wealth of knowledge to the firm from his prior roles in research at Palisade Capital Management, Jefferies & Co. and Standard and Poor’s. He has over 29 years of investment industry experience, with 15 years at ClearBridge. Pat previously served as portfolio manager for the ClearBridge Convertible Securities Strategy and was instrumental in assisting the ClearBridge ESG team in analyzing the carbon footprint of ClearBridge portfolios. He has worked closely with Mark and Peter for over ten years and joined the Tactical Dividend Income Strategy in 2020 as a portfolio analyst, specializing in high-dividend income investments such as energy master limited partnership (MLP) securities, REITs, mandatory convertible preferred stocks and convertible bonds.

“Pat’s hands-on experience working with Mark and Peter will help facilitate continuity and a smooth transition, consistent with ClearBridge’s practice of careful, long-term succession planning,” said Terrence Murphy, CEO of ClearBridge, a leading global equity manager committed to active management. “His extensive background in income-focused investments will serve the Strategy and our clients well.”