David Booth has found his second successor in a 22-year Dimensional Fund Advisors [profile] veteran.

Dave Butler Dimensional Fund Advisors Director, Co-CEO, and Head of Global Financial Advisor Services

Today Booth confirms that he is passing the co-CEO reins to Dave Butler, who will also continue to lead global financial advisor services for the firm. Eduardo Repetto will continue to serve as the Austin, Texas-based mutual fund shop's other co-CEO. And DFA founder Booth will stay on as executive chairman and "will remain closely involved in the firm on strategic initiatives."

Butler is an alumnus of UC Berkeley, where he played basketbell, and he was drafted by the NBA's Boston Celtics. He joined DFA in 1995 after working for Merrill Lynch.

Booth praises Butler as "a vital member of [DFA's] team for the past 22 years."

"We ... are confident that the Co-CEO model, which has worked well for our clients and the management of our firm over the past seven years, remains the best structure going forward," Booth states. "I know from my close interactions with both Dave and Eduardo that they have a very clear understanding of the vision for the company."

David Booth Dimensional Fund Advisors Founder and Executive Chairman

Repetto lauds Butler's "leadership, organizational abilities, and strong commitment to clients."

"Dave and I have worked closely together for the past 17 years," Repetto states. "I look forward to continuing the collaboration. We understand and appreciate the enormous responsibility entrusted in us by our clients, we will continue to always aim for the highest standards across all aspects of our investment process and client service. The set of ideas that form the basis of our investment solutions combined with our careful attention to expert implementation and dedication to clients, remain our focus, as does our overarching objective of helping investors achieve their goals."

"I'm honored and humbled ... I recognize the importance of our history, culture, and role as stewards of investor assets," Butler states. "During my tenure with the firm, we've grown from less than $10B to $460B. In that time, I've gained appreciation for the important pillars of the firm."

"Dimensional embodies a focus on the client, while always pursuing the best answer, implementing well, and carefully managing client expectations," Butler adds. "I fully intend to carry that vision and culture forward. I believe Dimensional is unique in its investment philosophy and how that translates to the client experience, and I'm excited to play a continued role in advancing that experience for investors around the world." 

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