Richard Pell is to step down from his roles as chairman and chief executive of Artio Global Investors to focus solely on investment management effective 1 November 2012.
President and chief operating officer Tony Williams (pictured) will succeed Pell as chief executive and join the company’s board of directors.
Francis Ledwidge, who has been the lead independent director of the company since its initial public offering in 2009, will assume the role of chairman.
As part of Pell’s exclusive focus on investment management, he will be taking a more active role in the day-to-day management of the company’s international equity strategies, in partnership with co-manager and head of international equity, Rudolph-Riad Younes.
In conjunction with this change, the international equity team has been realigned. Pell will remain closely involved with the company’s other equity and fixed income strategies.
“Generating long-term investment performance for our clients remains the key determinant of the success of our business. Accordingly, we believe that our clients and shareholders are best served if my time is devoted exclusively to that endeavour,” says Pell. “As chief operating officer since 2003, Tony has been involved in the firm’s strategic decision making, and has been instrumental in shaping our distribution strategy, product lineup and operating model. As such, he is uniquely qualified to take the reins as CEO and I expect this to be a seamless transition.”
“Under Richard’s leadership, we recently took steps to realign our business, focusing our resources on our long-established core competencies of international and global equity, investment grade fixed income and high yield. I intend to build on that foundation over the coming quarters and years,” says Williams. “There is much to do, but the overarching goal is clear; we must return Artio to growth. I look forward to continuing our efforts to do just that, seizing on the near-term opportunities in fixed income and over time returning our international equity products to positions of strength and growth.”