Federated Hermes Limited has hired Tara-Grace Dougherty as director of business development for the UK and Ireland, where she will focus on liquidity products.
Dougherty brings almost 20 years of experience to the position, with her last role at Scotiabank Global Banking and Markets as director of short term investment sales. She has also worked at Bank of America Merrill Lynch in its UK and US markets.
In her new role, she will report to Dan Churchouse, head of business development for UK and Ireland, and work to expand the liquidity product offering. Federated Hermes said the appointment follows two liquidity funds launched last year, the Short-Term Euro Prime fund and the Short-Term Sterling Prime fund.
“As we celebrate the 50th anniversary of our money market funds, we have significant opportunity to continue their growth in markets outside of the US. Tara-Grace brings highly relevant experience and relationships with investors which will enable our clients to benefit from the utility of money markets in the current rate environment,” Churchouse said.
As of the end of 2023, Federated Hermes held $757.6bn assets under management.
Dougherty added: “I am delighted to be joining Federated Hermes and helping to drive the next chapter for their market leading money markets business. They have led the way in the industry, navigating various market cycles and have been extremely successful in demonstrating how cash can be a resilient and attractive asset class.”
