Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:34 Years In, a Series Trust Gains Its First CEO Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 10, 2022

34 Years In, a Series Trust Gains Its First CEO

Reported by Neil Anderson, Managing Editor

A 34-year-old, independent series trust pioneer recently added its first full-time chief.

Steven Bryan "Steve" Plump
The RBB Fund, Inc.
President, CEO
On Monday, Arnie Reichman, chairman of the board of the RBB Fund, Inc. and the RBB Fund Trust, confirmed that Steve Plump has joined RBB as both CEO (a newly created position) and president. Short Hills, New Jersey-based Plump recently left Pimco, as previously reported, where he served as head of national accounts. His move to RBB comes after the series trust's founder stepped back last year.

As president of RBB, Plump succeeds longtime president Sal Faia, who will continue to serve as the series trust's chief compliance officer, Reichman confirms. (Faia also leads two firms that are RBB allies: Red Gate Advisers and Vigilant Compliance.) Reichman notes that, under Faia, RBB has grown to about $19 billion in AUM, more than 40 funds, 11 fund firms, and more than 20 unaffiliated subadvisors. (RBB launched in 1988 and lays claim to being the first series trust in the U.S.)

Faia did not return a call for comment.

"We had a remarkable president ... We couldn't operate without him," Reichman says of Faia. "He's a vital piece of RBB. He's part of our fabric, historically and going forward."

Hiring a full-time president and CEO now, Reichman tells MFWire, is about RBB's commitment to growth.

"In order for us to continue to lower costs for our shareholders, we have a desite to continue to grow ... Through growing assets, we achieve operating efficiencies," Reichman says, noting that all RBB's contracts have "significant breakpoints in fees at larger asset levels." "We created a new job for somebody that can now be full time, focusing solely on the strategic interest of RBB."

"We're in a dynamic space competing with vibrant competitors," Reichman adds. "We realized that at this scale, we really need a full-time executive who could support all of the board members and focus on the growth of the fund, in order to compete."

And that is where Plump comes in. Plump worked under Reichman back in the 1990s, when the latter served as senior managing partner of Warburg Pincus Asset Management. Reichman notes that the duo share an "entrepreneurial background."

"I knew Steve had the right combination of managerial skills, business acumen in financial services, and was approaching a point in his life where he might be interested in assuming a new kind of role for himself ... I've followed his career with interest over all these years," Reichman says. "He'll be a great addition."

Plump, for his part, lauds the RBB team as "best-in-class."

"RBB's rapidly expanding ETF platform is highly responsive to current marketplace trends, and I'm honored to lead the oldest and largest multiple series trust that continually adapts to serve its advisors," Plump states.

Plump joined Allianz GI back in 2007, then shifted to Pimco in 2011. Before that, he led Credit Suisse Funds and worked with Warburg Pincus AM (which Credit Suisse bought in 1999) and GNA. He attended Cornell University. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. 2024 ICI Leadership Summit, May 21-23
  2. MFDF webinar - Mutual Fund Director Compensation: the MPI Annual Survey (2024), May 21
  3. Schwab Institutional Investor Day, May 22
  4. IMEA webinar - Opportunities in the Evolving Wealth Management Market, May 22
  5. Raymond James 2024 Analyst & Investor Day, May 23
  6. WE SoCal - How to Lead With Impact: Fireside Chat With Lorraine Le, May 23
  7. MFDF Conference of Fund Leaders Forum, June 5
  8. MFDF in-person outreach: Continuing Regulatory Impacts on Fund Boards, June 11
  9. MFDF webinar - Digital Assets in the Fund Space (Part 1 of 2), June 12
  10. 2024 MMI Leadership Pathway Seminar, Jun 12-14
  11. 2024 Nicsa Fearless Leadership Symposium, June 12
  12. Expect Miracles East Coast Classic 2024, June 13
  13. MFDF webinar - Lessons Learned from the Regional Bank Volatility and the Impact on Registered Funds, June 18
  14. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20
  15. New York YPEM Cornhole Classic, June 25
  16. Morningstar Investment Conference Conference 2024, Jun 26-27
  17. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 16
  18. MFDF Director Discussion Series - Open Forum via Zoom, July 17
  19. MFDF Director Discussion Series - Open Forum (New York), July 23
  20. 2024 MMI Annual Conference, Oct 15-17
  21. 5th Annual ETFGI Global ETFs Insight Summit, October 29
  22. MFDF webinar - Digital Assets in the Fund Space (part 2 of 2), November 7
  23. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  24. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use