Though TAM's leadership has been stable since 2014, its parent firm Transamerica has undergone a recent leadership transition that will take some time to evaluate. Mark Mullin, president and CEO of Transamerica since 2009, stepped down from executive duties in March 2021; Will Fuller succeeded Mullin. This top-level change coincided with moderate leadership reshuffling across the firm from 2019 through March 2022. TAM's investment management team also saw modest turnover over the same period.
TAM uses a subadvisory model that meets industry standard due-diligence practices, and the firm is on more stable ground after undertaking a thorough review of its compliance and product oversight procedures following a 2018 SEC settlement. Most of its diversified lineup employs unaffiliated managers, though it employs a sister company on some of its fixed-income products. The firm's willingness to sever ties with that unit where it perceives shortcomings and to cut fees in order to stay competitive are encouraging. Yet long-term performance across its lineup has been middling, and the firm has a noticeable record of launching and later merging or closing funds in an attempt to capture investor interest.