he advisor to the Vintage Funds
will hire a new chief executive in the wake of Jay Evans'
early retirement. Rockford, Illinois-based Amcore Financial said that Evans, 60, will retire at the end of March next year.
At that time David W. Miles
, president and CEO, will relinquish his chief executive title while remaining as president and chief investment officer of the Investment Group.
The new CEO job will oversee the Investment Management Group, which is part of the Investment Group. That person will also report to Miles. A spokesperson was unable to say if the firm is considering external applicants for the position or when the decision will be made.
Miles added that the firm is working on an orderly transition over the next six months.
Evans oversaw the creation of the Vintage Funds, but had an investment background as does Miles. For the new CEO, the firm is seeking some new skills.
The new chief executive will be charged with overseeing the firm's bottom-line performance and increasing the assets under management from institutional clients both within the Amcore footprint and beyond, explained Miles.
"I was confident in my decision to retire early knowing that I have a talented staff that is skilled in implementing our investment objectives," said Evans. "AMCORE is a wonderful organization and I have enjoyed my career here. I will continue to be supportive of its growth and progress."
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