Kay Herr, managing director, is the Head of Research for the Global Fixed Income, Currency, and Commodities team.  Ms. Herr returned to Fixed Income in 2019 after having spent the prior 17 years in Equity Research, most recently as Associate Director of Global Developed Market Equity Research.  An employee since 1999, Ms. Herr was a credit research analyst for investment grade and high yield securities in U.S. Fixed Income before moving to U.S. Equity in 2002.  In the U.S. Equity team she was a research analyst covering real estate securities and a portfolio manager.  In addition to her portfolio management responsibilities, Ms. Herr was appointed Associate Director of U.S. Research in 2011 before assuming the position of Associate Director of Global Developed Market Equity Research in 2015.   Before joining the firm, Ms. Herr was a municipal bond credit research analyst with Prudential Securities. She holds a B.A. in economics from the University of Virginia and an M.B.A. with distinction from New York University Stern School of Business. She is also a CFA charter holder.