Calamos Investments, a US-based investment management firm, has hired R. Matthew Freund as co-chief investment officer, head of fixed income strategies.

In his new role, he will be responsible to lead the company’s expansion into fixed income, credit and alternative products.

Prior to joining Calamos, Freund worked at USAA Investments, where he was chief investment officer.

At USAA Investments, he was responsible for the portfolio management of the company’s mutual funds and affiliated portfolios, including property and casualty, and life insurance products. He oversaw more than $140bn in assets.

Freund has over two decades of investment management experience, and spent more than 20 years at USAA. He joined USAA in 1994.

Additionally, the investment manager appointed John Koudounis as CEO.

Commenting on the appointment, Koudounis said: "Matt's appointment is a major step in the execution of our mission to offer new and compelling investment opportunities in key arenas. Our goal is to provide dynamic, deep credit and alternative products as a key component of our firm's growth strategy going forward.

“In addition, Matt's contributions to the investment team overall will strengthen the capabilities of our existing product set while his experience will extend our presence in new segments of our industry."

Calamos Investments founder, chairman and global chief investment officer John Calamos, Sr. said: “Matt adds a depth of experience to the firm in a new area for us and complements our co-CIO and investment team approach. He will work closely with me and our teams as John Koudounis continues to pursue and execute on a strategy of thoughtful growth, focused on serving existing clients and attracting new ones."