Lord Abbett beefs up muni-bond team

Lord Abbett & Co. LLC has added Marybeth Leithead as a portfolio manager on its Municipal Bond team. She will be involved in helping to develop and implement investment strategy for the company's $9 billion in tax-free assets, with a focus on separately managed accounts. Ms. Leithead will report to Daniel Solender, director of Municipal Bond Management at the Jersey City, N.J.-based money manager. Lord Abbett's Municipal Bond team has 14 members, including portfolio managers, high-yield and high-grade research analysts and traders. Prior to joining Lord Abbett, Ms. Leithead was a portfolio manager and senior team leader at Brown Brothers Harriman & Co. Inc. of New York, where she was responsible for several billion dollars in tax-free assets. Additionally, she was a portfolio manager for fixed income at New York-based Williams Capital Group LP, and as a director and portfolio manager of fixed income at New York-based DLJ Asset Management. Lord Abbett managed $116 billion in assets as of Sept. 30.