General Investing >> Money Manager Interviews >> August 10, 2012

Mitigating Risk When Investing in Preferred Securities

Jacoby, L. Phillip
L. Phillip Jacoby IV is Executive Director and Chief Investment Officer at Spectrum Asset Management, Inc. He joined Spectrum in 1995 as a Portfolio Manager, and most recently held the position of Managing Director and Senior Portfolio Manager until his appointment as CIO in January 2010, after the planned retirement of his predecessor. Before joining Spectrum, Mr. Jacoby was a Senior Investment Officer at USL Capital Corporation, a subsidiary of Ford Motor Company, and Co-Manager of the preferred stock portfolio of its U.S. corporate financing division for six years. He began his career in 1981 with The Northern Trust Company, Chicago, and then moved to Los Angeles to join E.F. Hutton & Co. as a Vice President and Institutional Salesman, Generalist, Fixed Income Sales, through most of the 1980s. Mr. Jacoby holds a B.S./B.A. in finance from the Boston University School of Management. Profile
TWST:Please give us a brief background on Spectrum Asset Management and about your role in the firm.

Mr. Jacoby: Spectrum is a specialty manager in preferred securities, and we’ve