Artio Global Investors
[profile] now officially has a
new old chief. The New York City-based mutual fund shop confirmed reports from last week that Richard Pell stepped
down as chairman and CEO on November 1. President and chief operating officer Tony
Williams took the CEO job, while lead independent director Francis Ledwidge stepped
up as chairman.
As previously reported, Pell will continue to serve as chief investment officer. According to
Artio's statement, Pell will specifically "be taking a more active role in the day-to-day
management of the Company's International Equity strategies," teaming up with co-PM and
international equity chief Rudolph-Riad Younes.
The change comes after outflows cut Artio's by almost 50 percent over the past 12 months, to
Company Press Release
Artio Global Investors Inc. Appoints Tony Williams CEO; Richard Pell to Focus Exclusively on
NEW YORK--Oct. 30, 2012-- Artio Global Investors Inc. (NYSE: ART) (the “Company”) today
announced that effective November 1, 2012, Richard Pell will step down from his roles as
Chairman and CEO to focus solely on investment management. President and COO, Tony Williams,
will succeed Mr. Pell as CEO 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 Mr. 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. Mr. 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 endeavor,” said Richard 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
“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,” said Tony 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.”
Artio Global Investors Inc. is the indirect holding company of Artio Global Management LLC
(“Artio Global”), a registered investment adviser that actively invests in global equity and
fixed income markets, primarily for institutional and intermediary clients.
Headquartered in New York, Artio Global offers a select group of equity and fixed income
strategies, including International Equity, Global Equity, High Grade Fixed Income, High Yield
and Local Emerging Markets Debt. Access to these strategies is offered through a variety of
investment vehicles, including separate accounts, commingled funds and mutual funds.
For more information, please visit www.artioglobal.com.