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About Galliard

Galliard has more than two decades of experience designing fixed income and stable value solutions for institutional investors.

Our Values

Our firm values serve as the foundation upon which we work to build successful investment solutions for our clients.

INTEGRITY—Our reputation is our most important asset. Acting in the best interest of our clients is paramount.

CLIENT FOCUS—Clients are our top priority. We strive to provide exceptional client service and leading investment performance.

COMMUNICATION & TEAMWORK—We value a collaborative working environment and encourage open, direct, and frequent communication.

PROFESSIONALISM—We value initiative, taking pride in what we do, and bringing skill and good judgment to all of our interactions.

Since inception, Galliard has successfully delivered consistent long-term investment performance and exceptional service to our institutional clients.

Why choose Galliard for institutional investment needs?

Galliard serves more than 205 institutional clients.

  • Corporate retirement and benefit plans
  • Foundations and Endowments
  • Healthcare
  • Insurance reserves
  • Operating funds
  • Public entities
  • Taft-Hartley plans



ORGANIZATIONAL STABILITY—consistent ownership structure since firm inception and entrepreneurial culture foster development and retention of talent and leaders

EXPERIENCE & EXPERTISE—seasoned team of senior professionals dedicated to delivering service excellence and innovative solutions

CONSISTENT PERFORMANCE—employing a conservative and disciplined investment philosophy has resulted in a long-term track record of consistent benchmark outperformance

Statistics as of March 31, 2022

  • $91.7B

    Total AUM

  • $74.7B 

    Stable value assets under management

  • 205+

    Total clients

  • 15+

    Fortune 100 clients

  • 75+

    Stable value separate accounts

  • 50+ 

    Fortune 500 clients

  • 100+

    Fixed income separate accounts

  • 20+

    Active fixed income composites

Galliard Partners

 

Founded in 1995, Galliard focuses exclusively on providing fixed income and stable value management for institutional investors. Today, Galliard manages more than $90 billion in assets and our team includes more than 100 talented staff members. Although we have grown considerably since inception, we continue to embrace the same investment philosophy, client focus and entrepreneurial spirit the firm was founded on over twenty-five years ago.

  • WHAT DIFFERENTIATES GALLIARD?
    Seasoned expertise in every critical area of a client aligned investment solution.

  • Paul Langanki, CFA, Senior Director

    Paul Langanki, CFA
    Senior Director

     

    Paul is a member of the Client Relationship team, working with Galliard’s clients and their consultants to develop and implement investment strategies in order to ensure relationship expectations and objectives are met. Paul is responsible for assisting in the formulation of customized solutions for stable value clients and maintaining those relationships. This includes determining the optimal portfolio structure and working directly with clients in order to meet their unique needs. With 20 years of experience in the investment industry, Paul brings to Galliard a deep understanding of asset classes (specifically stable value), investment structure, plan design, corporate governance, and manager selection to assist clients in providing the best in class investment options. Paul earned a B.A. in Finance, Computer Applications from the University of Notre Dame and a M.B.A. in Finance, Management and Strategy, Marketing, International Finance from the Kellogg School of Management at Northwestern University.

  • Jaime Morgan, CIMA, Senior Director

    Jaime Morgan, CIMA
    Senior Director

     

    Jaime is a member of the Client Relationship team, working with Galliard’s clients and their consultants to develop and implement investment strategies in order to ensure relationship expectations and objectives are met. Jaime is responsible for assisting in the formulation of customized solutions for stable value clients. This includes determining the optimal portfolio structure and working directly with clients in order to meet their unique needs. With 21 years of investment experience and 12 years in client service, Jaime brings to Galliard a deep understanding of providing superior and seamless client support. Jaime earned a B.S. in Finance from Iowa State University and an MBA from University of Iowa, Henry B. Tippie College of Business.

  • Tami Pearse, Senior Director

    Tami Pearse
    Principal

     

    Tami is a member of the Client Relationship team, working with Galliard’s clients and their consultants to develop and implement investment strategies in order to ensure relationship expectations and objectives are met. As a result of 30 years dedicated to the stable value and fixed income markets, she brings to her work a deep understanding and perspective of wrap providers and the stable value and fixed income markets. Since joining Galliard in 2011, Tami has served as a key member of Galliard’s Contract Negotiation and Issuer Management team, with responsibility for day-to-day relationship management, wrap contract negotiation, and deal placement. She continues to collaborate closely with that team on behalf of Galliard’s clients. Tami earned a B.A. in Economics and International Relations from Lake Forest College.

  • Ryan Olsen, Director

    Ryan Olsen
    Director

     

    Ryan is a member of the Client Relationship team, working with Galliard’s clients and their consultants to develop and implement investment strategies in order to ensure relationship expectations and objectives are met. Ryan is responsible for assisting in the formulation of customized solutions for stable value clients. This includes determining the optimal portfolio structure and working directly with clients in order to meet their unique needs. Ryan is also responsible for assisting the portfolio management team in the communication and implementation of customized stable value solutions for separate account clients, as well as supporting the new business development process by coordinating business proposals and serving as a stable value strategy subject matter expert. Ryan earned a B.S. in Business Administration from Metropolitan State University.

  • Karl Tourville, Founding Managing Partner

    Karl Tourville
    Founding Managing Partner

     

    As one of Galliard's Founding Managing Partners, President, and Chair of Galliard’s Executive Operating Committee, Karl is responsible for all facets of the firm's management. With 30 years of experience in fixed income and stable value management, he has significantly influenced the evolution of stable value as an asset class and is a recognized thought leader on stable value investing. We believe that Karl’s steady leadership has shaped Galliard into one of the nation’s leading stable value managers. Karl earned a B.A. in Economics from the University of St. Thomas and an MBA from the University of St. Thomas.

  • Brian Renelt, Chief Compliance Officer

    Brian Renelt
    Chief Compliance Officer

     

    As Chief Compliance Officer, Brian is responsible for evaluation and testing of Galliard’s compliance program policies and review of supporting business procedures. Brian acts as Galliard’s liaison with Wells Fargo regarding compliance matters and has oversight for updates to Galliard’s Form ADV and other regulatory disclosures. He oversees required employee education on policies, regulatory changes and requirements, and provides guidance on disclosure language.

  • Richard Merriam, CFA, Founding Managing Partner

    Richard Merriam, CFA
    Founding Managing Partner

     

    Richard is one of Galliard’s Founding Managing Partners. He is a member of the Investment Committee and is responsible for overseeing asset selection and strategy formulation for the firm’s fixed income portfolios. Richard serves on the firm’s Executive Management Team, and is also a key leader on the Investment Committee. Under Richard’s guidance since the firm’s inception in 1995, Galliard’s investment team has established a consistent and value-added approach across all investment strategies. Richard earned a B.A. in Economics and English from the University of Michigan and an MBA from the Carlson School of Management at the University of Minnesota.

  • Andrew Owen, Senior Managing Principal

    Andrew Owen
    Senior Managing Principal

     

    Andrew is a senior managing principal and co-president of Galliard. He is responsible for day-to-day management of the firm as well as oversight of the middle and back office functions and major initiatives across these areas. Andrew also serves as president of Wells Fargo Funds and is the primary contact for the independent Wells Fargo Funds Board of Trustees. Andrew earned a B.A. from University of Pennsylvania and an M.B.A. in Business Administration from University of Michigan.

  • David Lui, Principal

    David Lui
    Principal

     

    David leads the Contract Strategy and Negotiation Team at Galliard. The Contract Team is responsible for implementing management initiatives with respect to stable value investment contracts and other client contracts. In addition to his role at Galliard, David is a nationally recognized speaker on compliance issues. David earned a B.A. in History from Brown University and a Juris Doctor from the University of California, Hastings College of the Law.

  • Ajay Mirza, CFA, Senior Managing Principal

    Ajay Mirza, CFA
    Senior Managing Principal

     

    Ajay is a senior managing principal of Galliard and chairman of the investment committee. He is responsible for oversight of the investment team and assists with overall management direction of the firm. Ajay heads the structured product team, while also overseeing Galliard’s Quantitative Analytics team.

  • Mike Norman, Senior Managing Principal

    Mike Norman
    Senior Managing Principal

     

    Mike is a senior managing principal and co-president of Galliard. He is responsible for day-to-day management of the firm, as well as oversight of the front office teams of client services, consultant relations, new business development, marketing, and stable value contract relationship management. Mike earned a B.A. in Economics from the University of Notre Dame and an MBA from the Carlson School of Management at the University of Minnesota.

  • Brandon Kanz, CFA, Senior Principal

    Brandon Kanz, CFA
    Senior Principal

     

    As Head of Credit, Brandon oversees Galliard’s credit sector team. Additionally, he manages Galliard’s taxable municipal and not-for-profit corporate bond portfolios, and works closely with the stable value product managers. With 15 years of investment experience, Brandon is Vice Chair of the Investment Committee and is a named portfolio manager for the Wells Fargo Stable Return Fund and the Managed Income Fund. Brandon earned a B.A. in Finance from Creighton University and an MBA from the Carlson School of Management at the University of Minnesota.

  • Nick Gage, CFA, Principal

    Nick Gage, CFA
    Senior Principal

     

    As Head of Stable Value Contract Strategy, Nick oversees the design, implementation, and management of customized stable value investment solutions to meet the unique needs of Galliard’s institutional clients. In this role, he is responsible for ongoing relationship management of all stable value contract issuers, as well as chairing the committee that is responsible for management and oversight of all of Galliard’s stable value portfolios, including the Wells Fargo Stable Return Fund and Galliard Managed Income Fund collective funds. In addition, he is actively involved in product development and provides industry leadership as the current Chairman of the Stable Value Investment Association’s Board of Directors.

  • Matthew Robertson, CFA, Senior Principal

    Matthew Robertson, CFA
    Senior Principal

     

    Matt oversees investment research, valuation, and monitoring of structured financial products. In this role, he covers traditional asset securitizations such as commercial mortgage-backed securities (CMBS), and consumer and industrial receivables/asset-backed securities (ABS). In addition, he covers structured government securities, such as SBA loans, Ginnie Mae Reverse Mortgages, EXIM Bank guaranteed bonds, and OPIC guaranteed bonds. Matt is also involved with the research and monitoring of Galliard’s covered bond investments. Matt earned a B.S. in Finance from Minnesota State University-Mankato and an MBA from the Carlson School of Management at the University of Minnesota.

  • Matthew Bentley, Principal

    Matthew Bentley
    Principal

     

    As a senior credit analyst, Matt manages Galliard’s portfolios of banks, REITs, finance, consumer, and retail bonds. Matt is a member of the Credit Sector Team at Galliard. Matt participates on the Contract Provider Credit Committee, and works closely with the stable value portfolio managers to keep apprised on any developments related to Galliard’s stable value contract issuers. Matt earned a B.B.A. in Finance from the University of Wisconsin-Eau Claire and an MBA from the Carlson School of Management at the University of Minnesota.

  • Paula Novick, Principal

    Paula Novick
    Principal

     

    Paula is one of the leaders on Galliard’s Investment Contract Negotiation Team. She is responsible for leading stable value investment contract negotiations, and she oversees contract review and structure. Paula functions as the primary point person for internal and external questions on investment. She also participates on the committees responsible for overseeing subadvisors and for approving contract terms. Paula is the primary negotiator for Wells Fargo’s collective fund agreements and for the agency and service agreements. Paula earned a B.S. in Business Administration from the University of Wyoming and a Juris Doctor from the Hamline University School of Law.

  • Chad Callahan, Principal

    Chad Callahan
    Principal

     

    Chad serves as the primary corporate trader at Galliard. He is responsible for day-to-day trading and portfolio management of Galliard’s investment grade corporate securities. Chad works closely with the credit team and other sector heads to optimize the corporate strategy for fixed income and stable value portfolios. Chad is a member of the Credit Sector Team at Galliard. Chad earned a B.A. in Finance from St. Cloud State University.

  • Tami Pearse, Senior Director

    Tami Pearse
    Principal

     

    Tami is a member of the Client Relationship team, working with Galliard’s clients and their consultants to develop and implement investment strategies in order to ensure relationship expectations and objectives are met. As a result of 30 years dedicated to the stable value and fixed income markets, she brings to her work a deep understanding and perspective of wrap providers and the stable value and fixed income markets. Since joining Galliard in 2011, Tami has served as a key member of Galliard’s Contract Negotiation and Issuer Management team, with responsibility for day-to-day relationship management, wrap contract negotiation, and deal placement. She continues to collaborate closely with that team on behalf of Galliard’s clients. Tami earned a B.A. in Economics and International Relations from Lake Forest College.

  • René Hoogmoed, CFA, Principal

    René Hoogmoed, CFA
    Senior Principal

     

    As a senior credit analyst, René focuses on corporate bond credit research covering the energy, basic materials, and utility industries. He trades high yield bonds and manages Galliard’s core plus portfolios. René is a member of the Credit Sector Team at Galliard. René earned a B.A. in International Marketing from HEAO University (Arnhem, The Netherlands) and an MBA from the Carlson School of Management at the University of Minnesota.

  • Andrea Johnson, CFA, CIPM, Principal

    Andrea Johnson, CFA, CIPM
    Senior Principal

     

    As a member of the Client Portfolio Management Team, Andrea is involved in the management and oversight of Galliard’s fixed income and stable value portfolios. Andrea sits on the Investment Committee, and is responsible for analyzing clients’ unique investment needs and ensuring that client portfolios draw maximum benefit from the investment team’s strategy decisions and trade ideas. In addition to her portfolio management responsibilities, Andrea is also actively involved in collaborating with Galliard’s relationship managers and provides her expertise when communicating with clients on portfolio strategy. Andrea also contributes to new product development and investment communications. Andrea earned a B.A. in Economics and Spanish from Ripon College and an MBA from the University of St. Thomas.

  • Pete Schmit, CFA, Senior Director

    Pete Schmit, CFA
    Senior Director

     

    As a fixed income product specialist and member of the Client Portfolio Specialist Team at Galliard, Pete is responsible for understanding and meeting the customized informational needs of Galliard’s institutional fixed income clients and consultants. In addition to working closely with clients and consultants, he also contributes to client communications and product positioning materials. Pete earned a B.S. in Finance from the University of Northern Iowa.

  • Chad Foote, Chief Operating Officer

    Chad Foote
    Chief Operating Officer

     

    Chad is Chief Operating Officer of Galliard. In this role, he oversees all back-office, middle-office, and risk management functions, including Accounting, Operations, Compliance, Technology, and Performance. These oversight responsibilities include developing robust controls throughout Galliard to ensure processes are operating effectively. Chad chairs the Fixed Income Valuation Committee and also coordinates firm-wide goal setting and monitoring through the Executive Operating Committee. Chad earned a B.S. in Management from the Carlson School of Management at the University of Minnesota.

  • Jennifer Lammers, Chief Compliance Officer

    Jennifer Lammers
    Senior Principal

     

    As Manager of Front Office Operations, Jennifer is responsible for Galliard’s client support team (including fixed income, stable value and investment contract analysts) as well as marketing (including internal and external communications). Jennifer also serves as Galliard’s business liaison to Wells Fargo Asset Management compliance.

  • Steve Moen, Senior Director

    Steve Moen
    Senior Director

     

    As a member of the Client Portfolio Team, Steve is responsible for client relationship management of Galliard’s institutional fixed income clients and their consultants. In this role, he consults with clients and consultants around specific portfolio strategy, account performance, servicing/reporting needs and market developments/new solutions. In addition, Steve assists with new fixed income business development initiatives and contributes to client communications and product positioning materials. Steve earned a B.S. and MBA in Finance from the Carlson School of Management at the University of Minnesota.

For additional information, please see Galliard's ADV part 2.

Galliard's Origin

Chateau GalliardGalliard’s name was inspired by the castle Galliard (Chateau Gaillard), which sits high above the Seine River some 60 miles northwest of Paris in Normandy, France. This medieval landmark was built by Richard the Lionheart, master military strategist, King of England and Duke of Normandy. It was an early concentric castle, an indestructible fortress made of limestone, that was built on strategically, well-chosen defensible ground. He engaged timeless architectural principles and the strongest materials.