Guggenheim Partners CIO Scott Minerd Dies Suddenly: What You Need To Know

Scott Minerd, chief investment officer and managing partner at Guggenheim Partners, died suddenly Wednesday at the age of 63. Here's what you need to know. 

What Happened: Minerd, who joined Guggenheimn shortly after it was formed and was the public face of the firm, died of a heart attack Wednesday, the company said in a statement. 

“Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today. He will be greatly missed by all. My deepest condolences are with his husband, family and loved ones,” said Mark Walter, CEO and a Guggenheim founder. 

Minerd suffered a heart attack during a regular workout, according to Guggenheim. 

Minerd was a frequent commentator on markets and investments, both on television and via social media.

He was a key architect of the structure, operations and policies that helped Guggenheim Investments become a dominant player in the asset management industry.

In honor of Minerd, Guggenheim's investment professionals will continue to manage client portfolios using the systems and practices he helped establish, the business said in a press release on Thursday.

Why It Matters: The firm has put into action its succession plan, which was created to address unforeseen circumstances. Over 350 of the 900 employees at Guggenheim Investments are financial professionals.

Guggenheim does not expect any interruptions in client service, a change in how client portfolios are managed every day or how investment assets are chosen, according to the firm. 

“We express our deepest condolences to Scott's husband, Eloy Mendez, as well as to his many friends and colleagues,” the firm said.

Read next: Guggenheim CIO Scott Minerd Regrets Not Investing In Shiba Inu: 'I Wish I'd Invested $100,000'

Scott Minerd. Photo by the World Economic Forum via Flickr.