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TCW’s Bond-Investing Chief Tad Rivelle to Step Down

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Tad Rivelle, the money manager who helped turn TCW Group Inc. into a bond-investing powerhouse, will retire from the firm at the end of the year.

Steve Kane and Bryan Whalen will succeed Mr. Rivelle as investment chiefs for the firm’s fixed-income division, TCW wrote Wednesday in a note to clients. Messrs. Kane and Whalen, along with Laird Landmann, will remain portfolio managers, the firm said.

A spokesman for TCW confirmed the note’s contents and declined to comment further.

Mr. Rivelle’s departure will break up an investing team that has worked together for more than two decades.

Messrs. Rivelle, Landmann and Kane worked at Pacific Investment Management Co. before co-founding Metropolitan West in 1997. TCW bought MetWest in 2009 to replace another well-known bond manager, Jeffrey Gundlach.