(Bloomberg) -- James Michal, a managing director at Guggenheim Investments, resigned after an investigation at the firm regarding his behavior unrelated to his duties as a portfolio manager, according to a statement to employees on Monday that was seen by Bloomberg.
Michal, 35, was on a medical leave, the company said last week. Guggenheim didn't disclose details of the investigation or his alleged conduct.
Guggenheim Investments, a unit of Guggenheim Partners headed by Scott Minerd, oversaw about $250 billion in assets as of Dec. 31.
Michal was a co-manager of Guggenheim's largest mutual funds, including the $9.26 billion Total Return Bond, $6.66 billion Macro Opportunities and $3.55 billion Floating Rate Strategies funds, according to a prospectus filed Feb. 5.
Michal couldn't immediately be reached for comment. He didn't reply to phone and email messages left last week and Monday.
To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.net.
To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Josh Friedman, Heather Perlberg
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