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About
John Saf is Vice President and Co-Portfolio Manager at Calamos Investments, based in Naperville, Illinois. In this role since 2017, he brings over 30 years of investment management experience and contributes to the firm's fixed income and insurance portfolio strategies, co-managing mandates with a keen focus on asset allocation and credit research for institutional clients.
Saf’s expertise lies primarily in managing fixed income portfolios, particularly for insurance companies, where he leverages his deep experience with asset-liability management, credit risk assessment, and portfolio construction. Throughout his career—including previous leadership positions at Oppenheimer Investment Management and 40|86 Advisors—he has overseen billions of dollars in insurance assets and has been responsible for significant asset allocation and risk management decisions.
He holds a BSBA in Actuarial Science and Accounting from Drake University. Saf is also a CFA charterholder, a Certified Public Accountant (inactive), and a Fellow in the Life Management Institute, underscoring his specialized expertise in actuarial science, accounting, and the insurance sector.
Career History
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Calamos Investments | VP Portfolio Manager | May 2017 to Present | Manage fixed income SMAs for insurance companies and other institutions. |
| Oppenheimer Investment Mgmt | Fixed Income Portfolio Manager | Jul 2006 to Apr 2017 | Manage fixed income portfolios for Life, Annuity & Health, Property & Casualty, and Captive insurance company clients. |
| 40|86 Advisors (fka Conseco Capital Management) | VP Portfolio Manager | Mar 1995 to Jun 2006 | Co-managed the Conseco insurance portfolios, managed all third party insurance investment clients, liason to Annuity Marketing (new money rate) committee, responsible for all investment inputs to ALM ... |
| American Life & Casualty | ALM Manager | Dec 1992 to Mar 1995 | Responsible for asset modeling, integration of liability models, and total company projections over deterministic and stochastic scenarios. |
| Ernst & Young | Manager | Jul 1990 to Dec 1992 | Plan, supervise and review insurance company audits. Perform actuarial consulting. |
| Ernst & Young | Senior Accountant | Jul 1988 to Jun 1990 | Plan and supervise staff people on insurance company audits. Perform actuarial consulting support. |
| Ernst & Young | Staff Accountant | Jun 1986 to Jun 1988 | Audited insurance companies and performed actuarial consulting support. |
Education
Drake University
BSBA, Actuarial Science / Accounting
1982 — 1986
Skills & Expertise
Others at Calamos Advisors LLC (44)
| Name | Role | Location |
|---|---|---|
 | Vice President - Investment Consultant -RIA and BANKS | Denver, CO , United States |
 | Equity Trader | Naperville, IL , United States |
 | Portfolio Manager | Oak Park, IL , United States |
D Doug Berman | Vice President - Senior Investment Consultant | Jupiter, FL , United States |
 | Vice President, Investment Consultant | Philadelphia, PA , United States |
 | Co-Chief Investment Officer, Senior Co-PM, Head of Alternatives and Co-Head of Convertibles | Chicago, IL , United States |
G Glen Ingalls | SVP and Co-Portfolio Manager | Oakland, CA , United States |
 | Research Associate | Chicago, IL , United States |
 | Senior Vice President, Senior Co-Portfolio Manager | Naperville, IL , United States |
J Joe Mariano | SVP, Head of Global Trading and ETF Capital Markets | Naperville, IL , United States |
