US wealth manager Guggenheim Partners Asset Management has hired Sarah Lange as a managing director, based in New York, with responsibility for business development within the insurance and fund of funds markets.

Ms Lange joins GPAM from US fund manager TCW, where she focused on the firm’s insurance client development and relationship management. Her previous roles also include those of head of portfolio management at Aegon USA Investments and president of Market Street Investment Management.

GPAM, a division of Guggenheim Partners, has offices in New York, Chicago and Santa Monica. Offering fixed income and equity strategies, the firm’s assets under management exceed £29 billion.

Guggenheim Partners’ business lines include asset management, investment advisory, capital markets, institutional finance, and merchant banking. As a whole the firm oversees more than $100 billion in assets and has US offices in New York, Chicago, Los Angeles, Miami, Boston, Philadelphia, St Louis and Houston, along with international bases in London, Dublin, Geneva, Hong Kong, Singapore, Mumbai and Dubai.