Federated Hermes, Inc. (FHI) Q2 2026 Earnings Call Transcript

Federated Hermes, Inc. ( FHI ) Q2 2026 Earnings Call July 31, 2026 9:00 AM EDT Company Participants Raymond Hanley - President John Donahue - President, CEO & Chairman Thomas Donahue - VP, Treasurer, CFO & Director Deborah Cunningham - Executive VP & Chief Investment Officer of Money Markets Conference Call Participants Robin Holby - TD Cowen, Research Division Kenneth Lee - RBC Capital Markets, Research Division Y. Cho - JPMorgan Chase & Co, Research Division Presentation Operator Greetings. Welcome to the Federated Hermes Q2 Analyst Call and Webcast. [Operator Instructions] Please note this conference is being recorded. I would now like to turn the conference over to your host, Ray Hanley, President of Federated Investors Management Company. You may begin. Raymond Hanley President Hello, and welcome. Thank you for joining us today. Leading our call today will be Chris Donahue, CEO and President of Federated Hermes; and Tom Donahue, Chief Financial Officer. Joining us for the Q&A are Saker Nusseibeh, the CEO of Federated Hermes Limited; and Debbie Cunningham, our Chief Investment Officer for Money Markets. During today's call, we will make forward-looking statements and want to note that our actual results may be materially different than the results implied by such statements. Please review the risk disclosures in our SEC filings. No assurance can be given as to future results, and Federated Hermes assumes no duty to update any of these forward-looking statements. Chris? John Donahue President, CEO & Chairman Thank you, Ray. Good morning, all. I will review Federated Hermes' business performance. Tom will comment on financial results. We ended the second quarter with record assets under management of $912 billion, led by growth in equity and private market assets. Equity assets closed the second quarter at a record high of $110 billion. During the second quarter, equity assets increased by $8.8 billion or 9% from the first quarter, reflecting solid