Guggenheim chief investment officer Scott Minerd dies at 63
- Guggenheim Partners chief investment officer Scott Minerd died on Wednesday at 63.
- He served as one of Guggenheim's first managing partners and was a touted market commentator.
Guggenheim Partners chief investment officer Scott Minerd died unexpectedly on Wednesday at 63, the investment firm said.
He died after a heart attack during his regular workout and is survived by husband Eloy Mendez, according to Guggenheim.
"I have known Scott for over 30 years and we were partners much of that time. Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today," said Mark Walter, chief executive and one of the founding partners of Guggenheim said in a statement. "He will be greatly missed by all."
Guggenheim Investments will continue to be led by Co-Presidents Dina DiLorenzo and David Rone as well as Anne Walsh, a managing partner and CIO of Guggenheim Partners Investment Management.
Minerd, who was regarded as one of market's "bond kings" due to his highly regarded analysis, joined the firm as one of its first managing partners shortly after its inception.
He was a frequent markets commentator on both social media and television for outlets such as the Financial Times, Bloomberg, CNBC and the Wall Street Journal.
CNBC anchor Brian Sullivan took to Twitter to mourn Minerd's death, saying he was a "giant of a man [with an] even bigger heart."
Hedge fund manager Bill Ackman also posted on Twitter to mourn Minerd, saying that "he was an old fashioned handshake businessman whose word was his bond."
Before his 25-year tenure with Guggenheim, Minerd worked with Morgan Stanley as a risk manager then moved to Credit Suisse First Boston as a managing director.
Minerd was also a member of the Federal Reserve Bank of New York's Investor Advisory Committee on Financial Markets. He attended the Wharton Business School in Pennsylvania. He joined Guggenheim in 1998 shortly after the founding of the firm.
Minerd was also a regarded crypto skeptic, telling Bloomberg in an interview last week that tokens could see a "washout" similar to the internet bubble bursting in the early 2000s.