TCW Group is an asset management firm based in Los Angeles , California .
24-550: Founded by Robert Addison Day in 1971 and headquartered in Los Angeles, TCW manages a broad range of investment products. The TCW Group was originally known as Trust Company of the West . TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as foreign investors and high-net-worth individuals. In 2001, Société Générale (SocGen) acquired
48-424: A 31% interest in the firm. As of June 30, 2024, TCW had $ 197 billion of assets under management or committed to management. The President and CEO of The TCW Group is Katie Koch. Robert Addison Day Robert Addison Day (December 11, 1943 – September 14, 2023) was an American businessman, investor, and philanthropist. He was the founder and former chairman and chief executive officer of Trust Company of
72-591: A Los Angeles-based, family-owned investment company founded in 1980. His family are the owners of Cabo Del Sol, an 1,800 acre master planned community located in Cabo San Lucas, Mexico . In 2021, Day and Oakmont Corporation announced plans for a new Four Seasons Resort and Residences on Cabo Del Sol, next to the Cove Club, a 500-acre private club and community located within Cabo Del Sol. Day, as
96-461: A building previously known as Healthcare Center 2 to Willametta Keck Day Healthcare Center. The Willametta Keck Day Healthcare Center contains multiple Keck Medicine of USC clinics, covering primary care and surgical specialties. Nearly US$ 300 million has been donated to USC by the W.M. Keck Foundation and individual contributions, making the family amongst the university's top benefactors. Also in 2007, Day and his then-wife donated US$ 30 million to
120-496: A controlling interest in The TCW Group. On February 24, 2010, TCW announced the completion of its acquisition of Metropolitan West Asset Management LLC (MetWest), a leading fixed income investment management firm. In February 2013, TCW management and alternative asset manager The Carlyle Group acquired TCW Group from Société Générale. As a result of the transaction, TCW management and employees increased their ownership in
144-635: A fundraiser with then-President George W. Bush , which raised US$ 1 million for the Republican Party . In 2015, Day donated $ 1.1 million to Super PACs supporting Republican presidential candidates Jeb Bush and Carly Fiorina . In 2006, Day was awarded the Decoration of Officier de la Légion d'Honneur from the Government of France. In recognition of Day, the Board of Trustees re-named
168-484: A year later. Day was the grandson of Superior Oil Company founder William Myron Keck . Robert Addison Day was married to Marlyn Gates. He had three children and lived in Los Angeles. He died in Los Angeles on September 14, 2023, at the age of 79. Day has previously been a donor and economics advisor to the former Governor of California, Arnold Schwarzenegger . Since 1980, Day supported and hosted events for Congressman David Dreier . In October 2006, Day hosted
192-469: Is a nonpartisan organization of business leaders headquartered in Washington, D.C. It holds meetings several times a year for high-level policy discussions. The Business Council allows global CEOs to gather and network along with leaders in politics, science, and academia. The organization is guided by the belief that the business community's contributions to public discourse and governance are in
216-783: The Banking Act of 1935 and the Social Security Act . According to the Detroit Free Press , the organization was designed “for corporate titans to offer counsel and advise to the federal government.” It was renamed The Business Council as an organization independent from the Department of Commerce in 1961, under President John F. Kennedy . In 2009, then-President Barack Obama claimed, “Every President since Franklin Delano Roosevelt has sought
240-493: The W. M. Keck Foundation which he chaired and served as CEO of. In 2007, Day made a gift of $ 200 million to his alma mater Claremont McKenna College , creating the Robert Day Scholars Program. The donation marked the largest recorded gift to a liberal arts college, the largest gift in the field of economics and finance, and among the top 20 gifts ever given to a college or university at the time. Day
264-831: The "largest undeveloped tract of private property east of the Mississippi River." Day has served on the corporate boards of Freeport-McMoRan , Fisher Scientific , and Société Générale . He has also sat on the board of trustees of the Center for the Study of the Presidency and Congress , the Ronald Reagan Presidential Foundation and Institute, and the Brookings Institution , where he was chairman from 1990 to 1998. Day
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#1732772812106288-694: The Cypress Partners LP, an early example of a hedge fund focusing on recognizing undervalued or overvalued companies. In 1971, he founded the Trust Company of the West (now known as the TCW Group), an asset management firm. In 2001, Day sold 70 percent of TCW Group to the Société Générale for US$ 2.5 billion, with 30 percent of the company remaining employee-owned. Day was also the founder and chairman of Oakmont Corporation,
312-733: The UCLA Department of Surgery through the UCLA Foundation, establishing the Robert and Kelly Day Surgical Endowment. In September 2015, through the W.M. Keck Foundation, Day donated US$ 500,000 to the Martha's Vineyard Public Charter School, including US$ 400,000 for the purpose of creating a new science center named in honor of his close friend Vernon Jordan, a Civil Rights activist, lawyer, Democratic advisor, and longtime Martha's Vineyard summer visitor. The Jordan Science Center opened
336-632: The W. M. Keck Foundation made a gift of US$ 110 million to the University of Southern California in 1999, creating the Keck School of Medicine of USC. In 2011, the W.M. Keck Foundation made another contribution of US$ 150 million to USC. The university's academic medical enterprise was named Keck Medicine of USC, comprising Keck Medical Center of USC and the Keck School of Medicine. The Foundation gave another US$ 10 million to USC in 2017, renaming
360-522: The West until 2009. He was the chairman and president of the W. M. Keck Foundation . Robert Addison Day was born in Los Angeles, California on December 11, 1943. He received a Bachelor of Science in economics from Claremont McKenna College in 1965. Day started his career at the financial firm White, Weld and Company in New York City. In 1969, Day founded and managed the portfolio of
384-535: The controlling owner of the Foley Timber and Land Company, owned approximately 560,000 acres of timberland in Florida, making him one of the largest landowners in Florida at the time. Day's partners in the Foley Timber and Land Company included Howard H. Leach , Ken Langone and Henry Kissinger . The timberland was purchased in 1994 from Procter and Gamble , and when it was sold in 2015, it was considered to be
408-631: The department of economics to Robert Day School of Economics and Finance at Claremont McKenna College in 2007. In May 2014, the Caltech board of trustees awarded Day with the Robert A. Millikan Medal, its highest recognition, created to honor the life and ideals of the school's co-founder, Robert Andrews Millikan. In December 2021, CMC announced the naming of the Robert Day Sciences Center as home to CMC's integrated sciences program. Business Council The Business Council
432-462: The firm to approximately 40% on a fully diluted basis, better aligning interests with clients. Equity for the investment came from two Carlyle investment funds and from TCW management. In December 2017, Nippon Life Insurance Company purchased a 25% minority stake in TCW from The Carlyle Group. As a result of the purchase, ownership by TCW management and employees increased to 44%, while Carlyle maintains
456-587: The height of the pandemic, inviting chief executives and other experts to discuss COVID vaccines, treatments, and other topics. In collaboration with The Conference Board , The Business Council issues a quarterly “Measure of CEO Confidence,” surveying more than 100 CEOs about current economic conditions and expectations about the future. The chief executives also share their sentiments about U.S. employment, recruiting, wages, capital spending, and other economic indicators. Roger W. Ferguson, Jr. , vice chairman of The Business Council, has appeared on CNBC to discuss
480-627: The interest of the common good of the American people. Membership is by invitation-only and limited to CEOs of leading multinational businesses personally selected by fellow members of The Business Council. The organization is strictly nonpartisan and headquartered in Washington, D.C. During the COVID-19 pandemic , The Business Council helped global companies navigate the public health crisis. The organization conducted weekly CEO calls at
504-588: The survey findings. Marlene Colucci serves as CEO of The Business Council. Appointed in 2013, Colucci has held leadership positions in public policy at the White House , U.S. Department of Labor , and American Hotel and Lodging Association . She describes the organization as "an important voice for the business community with a high level of personal engagement by its members.” Prior to Colucci, Philip Cassidy served as executive director of The Business Council for more than two decades. The Business Council
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#1732772812106528-742: Was a member of the Business Council . From 2001 to 2003, he sat on the President's Intelligence Advisory Board . He was also a member of the Alfalfa Club , the California Club , the Center for Strategic and International Studies , and the Council on Foreign Relations . Day was a Los Angeles County Museum of Art life trustee. Day was an active philanthropist throughout his life making major individual contributions and through
552-886: Was founded by Secretary of Commerce Daniel C. Roper and investment banker Sidney Weinberg as the Business Advisory Council for the United States Department of Commerce in 1933, under President Franklin D. Roosevelt . It formed the Industrial Advisory Board for the National Recovery Administration during the Great Depression . It also established committees to discuss the Securities Exchange Act of 1934 ,
576-548: Was the chairman and former chief executive officer of the W. M. Keck Foundation , named after William Myron Keck . In 1997 under Day, the W.M. Keck Foundation funded a US$ 50 million grant for the Claremont Colleges, establishing a graduate-level, application-based scientific research and education program called the Keck Graduate Institute of Applied Life Sciences. In 1999, at Day's direction,
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