Oakmark Funds has a new president. Kristi Rowsell, who is also president and chief financial officer of Oakmark's investment adviser Harris Associates, steps into the role of president of the Chicago-based, $30 billion mutual fund family.

Rowsell, 43, takes over from John Raitt, who was most recently Harris Associates' president and CEO. Raitt continues to serve as a senior U.S. investment analyst at Harris, an indirect subsidiary of Natixis Global Asset Management.

Rowsell's appointment completes a transition that started earlier this year, according to a press release.

"This change also allows me to shift my focus and devote 100 percent of my energies to what I enjoy most – generating investment ideas for our clients," Raitt said in the release.

Rowsell joined Harris in 1995 and has served as chief financial officer of Harris and the Oakmark Funds for the past 11 years. Earlier, she was a vice president and treasurer at Calamos Asset Management and a senior tax specialist at KPMG Peat Marwick. 

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