XPO Logistics, a leading global provider of transport and logistics solutions, has announced that Mark Manduca will become the chief investment officer of GXO Logistics, Inc., the intended spin-off of XPO’s logistics business. Manduca has joined XPO as chief investment officer of the logistics segment, effective in May. He will be responsible for analysing GXO’s growth opportunities, optimisation of the company’s asset portfolio and oversight of its UK pension investments. Alongside these responsibilities, he will play a key role in ensuring that GXO’s investment case reaches a global audience.
Manduca has consistently led the top-ranked European transport research teams for close to a decade, as determined by Institutional Investor. In 2020, individually, he was named the No. 1 European transport research analyst by Institutional Investor for the eighth consecutive year.
Manduca’s senior experience with leading investment banks includes Citigroup in London, where he served as managing director in equity research and led transport research activities. Previously, he spent eight years with Bank of America Merrill Lynch, where he led the business services, leisure and transport research teams. He started his career as a buy-side equity analyst with Insight Investment, a global asset management company. Manduca holds a master’s degree in modern languages (German) from the University of Edinburgh in Scotland and is a graduate of Eton College in England.
Brad Jacobs, chairman and chief executive officer, said, “Mark is a top-ranked analyst who received the most votes across all sectors and regions in the 2020 European Institutional Investor survey. He also has the roll-up-your-sleeves mentality we look for in our executives. We’re very pleased to have him on board as our spin-off plan progresses.”
As previously announced, XPO expects to spin off its logistics business as a separate, publicly-traded company in the second half of 2021. As the second-largest contract logistics provider in the world, GXO will be well-positioned to capitalise on major tailwinds of e-commerce expansion, customer demand for logistics automation and a burgeoning trend toward supply chain outsourcing. The operations currently include approximately 890 locations in 27 countries.