Credit Research Team

Credit research is the cornerstone of our investment process. Our credit process is based on rigorous fundamental credit analysis that seeks to thoroughly understand historic and prospective credit risks for the issuers in our universe and the sectors within which they operate. As a group the senior credit research analysts average more than 27 years experience in the industry. The credit research team is a shared service, made up of analysts from U.S. Bancorp Asset Management, as well as our subsidiary, PFM Asset Management. Learn more about each team member's role below:

Robert Hajduch

Robert Hajduch

Managing Director, Taxable Credit Research
36 years experience

In his role as managing director, Rob leads the firm's taxable credit research efforts. In addition to managing the taxable credit research team Rob is responsible for credit research within the global financial sector. 

Tim Russell

Tim Russell

Managing Director, Municipal Credit Research
28 years experience

In his role as managing director, Tim leads the firm's municipal credit research efforts.

Winnie Cheng, CFA

Winnie Cheng, CFA

Principal Credit Analyst
38 years experience

Winnie is responsible for credit research within the technology, personal care, health care and commercial services sectors.

Eric Espeseth

Eric Espeseth

Principal Credit Analyst
20 years experience

Eric is responsible for credit research within the automotive, oil and gas, utility, media/telecom and Canadian bank sectors. He also serves on the Taxable Credit Committee.

Cynthia Ma, CFA

Cynthia Ma, CFA

Principal Credit Analyst
17 years experience

Cynthia is responsible for credit research within auto, equipment manufacturers, utility and asset-backed securities. She also serves on the Taxable Credit Committee.

Kim Troedsson

Kim Troedsson

Senior Credit Analyst
34 years experience

Kim is responsible for credit research within banks in Europe, Japan and Canada. She also covers food and beverage and manufacturing companies.

Marin Komlan

Marin Komlan

Senior Credit Analyst
22 years experience

Marin is responsible for credit research within the municipal sector.

Kevin Xie, CFA

Kevin Xie, CFA

Credit Analyst
5 years experience

Kevin is responsible for credit research within the financial services, P&C insurance, REITs and Canadian banking sector for U.S. Bancorp Asset Managment and its subsidiary, PFM Asset Management.

Joe Morrison

Joe Morrison

Credit Analyst
3 years experience

Joe is responsible for credit research within the municipal sector.