Three months after receiving a Wells notice, F-Squared Investments is under new leadership.

Today the Wellesley, Massachusetts-based model manager and mutual fund subadvisor unveiled the ascension of board member Laura Dagan to CEO, succeeding co-founder Howard Present. Dagan once led stable value asset manager Dwight (now part of Goldman Sachs).

A spokesman for F-Squared confirms that as part of the change, which is effective immediately, Present is also leaving F-Squared's board of directors.

The move comes three months after the SEC sent F-Squared a Wells Notice, which F-Squared revealed shortly thereafter, about the performance record of F-Squared's AlphaSector U.S. equity indexes. F-Squared manages $28 billion, and at the end of the summer that included $13 billion in five Virtus mutual funds subadvised by F-Squared. 

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