A top investing executive is leaving American Century Investments, and a pair of team leaders are dividing up the duties.

Scott Wittman American Century Investments CIO, multi-asset strategies and disciplined equity

Scott Wittman will leave his position as senior vice president, senior PM, and chief investment officer, multi-asset strategies and disciplined equity at American Century at the end of the month, a company spokesperson confirms. His duties overseeing the multi asset strategies team and the disciplined equity portfolio team will be split into two positions—one overseeing each team.

Richard Weiss American Century Investments CIO, multi-asset strategies

Rich Weiss, who is currently senior vice president and senior PM of the multi-asset strategies team, will be promoted to chief investment officer of the multi-asset strategies team. Vinod Chandrashekaran, who is currently PM and director of quantitative research, will be promoted to chief investment officer of the disciplined equity team.

Vinod Chandrashekaran American Century Investments CIO, disciplined equity

Wittman is resigning to take time off and spend time on his farm in Indiana, according to the spokesperson. He will stop acting as CIO on June 30, yet he will stay at American Century through August to help with the transition. The change was announced to employees last Thursday. Weiss and Chandrashekaran will report to Victor Zhang, co-CIO and SVP at American Century.

It has been American Century’s plan of succession to split up Wittman’s duties into two roles, according to the spokesperson.

“Splitting Wittman’s duties allowed for a level of specialization because they are distinct teams,” the spokesperson tells MFWire.

Weiss has overseen the day-to-day work of the multi-asset strategies team since joining American Century in 2010. Before then, Weiss was CIO at City National Bank and held senior positions at PaineWebber, Mellon Bank, and Sanwa Bank.

Chandrashekaran joined American Century in 2013 and in 2015 he took over duties within the disciplined equity team. Before joining American Century, he held leadership roles at BlackRock, Barclays Global Investments, and Barra.

Before joining American Century in 2009, Wittman was a managing director at Munder Capital Management and president and CIO for Vantage Investment Advisors.

Chandrashekaran and Weiss will be working out of the Mountain View, California offices of American Century, though the firm is based in Kansas City, Missouri.  

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