Waterfall Asset Management promotes Lo and Rebello to co-CIOs

Both Lo and Rebello are partners at the firm.

  • Tom Buttacavoli has stepped down from the CIO role
  • Prior to joining Waterfall, Lo worked as an analyst at Citigroup Global Markets while Rebello was a portfolio manager at Aberdeen Asset Management
  • As of September 1, 2022, Waterfall manages approximately $11.2 billion in assets under management

Waterfall Asset Management has promoted Patrick Lo and Brian Rebello to co-chief investment officers.

Tom Buttacavoli has stepped down from the CIO role and is in discussions with the firm about potential future opportunities.

Both Lo and Rebello are partners at the firm.

“Patrick and Brian have played key roles in Waterfall’s investment efforts and overall evolution since each joined the firm in its early days,” said Tom Capasse, founder and managing partner of Waterfall, in a statement. “They are both capable investors and leaders with highly complementary skills and backgrounds who exemplify the collaboration, intellectual rigor, and commitment to delivering for clients that underpins our organization. I could not be more excited about the future of our firm with Patrick and Brian helming our investment team, which, along with our excellent business and operations teams, is stronger than it has ever been.”

Prior to joining Waterfall in 2006, Lo worked as an analyst at Citigroup Global Markets.

Prior to joining Waterfall in 2010, Rebello was a portfolio manager at Aberdeen Asset Management. Prior to Aberdeen, he was a vice president and senior credit analyst at Deutsche Asset Management.

Founded in 2005, Waterfall is headquartered in New York City. As of September 1, 2022, Waterfall manages approximately $11.2 billion in assets under management.