The chief of a $23.6-billion-AUM, 50-year-old, California fund firm is preparing to pass the reins to a familiar leader. Yet the current chief is staying involved, too.

Brent Vardeman Woods Brandes Investment Partners, LP Outgoing CEO

Last week, the team at Brandes Investment Partners [profile] revealed that Oliver Murray, managing director of portfolio management and client services and a 22-year company veteran, will take over as CEO of the San Diego-based, value-investing-focused asset manager on May 1. Murray will succeed 11-year CEO Brent Woods, a 29-year company veteran who will continue to serve on both Brandes' international large-cap investment committee and Brandes' investment oversight committee.

Oliver Michael Murray Brandes Investment Partners, LP Managing Director of Portfolio Management and Client Services, CEO-Elect

Woods will also become president of Brandes' general partner, Co-GP, LLC. (Co-GP is also the managing general partner of Brandes' majority owner, Brandes Worldwide Holdings, L.P.. Through Brandes Worldwide and Co-GP, Brandes Investment Partners is 100-percent employee-owned.)

Per a statement from Co-GP, the upcoming shifts of Murray and Wood reflect "Brandes' commitment to an orderly succession that will help ensure strong leadership for the future." Murray, in turn, lauds the Brandes team as "an exceptional group of talented and dedicated investment professionals who embody Brandes' commitment to character, integrity, and providing investment excellence."

News of the upcoming CEO switch comes as the Brandes team is celebrating the firm's golden anniversary, as founder Charles Brandes launched his eponymous shop in 1974. He retired from the boutique in 2018.

Murray first joined Brandes in 2002, and that year he spearheaded the firm's entry into Canada. He later led Brandes' entry into Singapore, and last year he led the firm's move into the ETF space.

Woods joined Brandes back in 1995. After serving as managing director of investments, he took over as CEO in 2012. 

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