There is a new chief overseeing the New York City-based FFTW Funds. Fischer, Francis, Trees & Watts, advisor to the funds, has tapped Stephen Casper as its new chief executive officer replacing Liaquat Ahamed. Casper had been its chief operating officer and it is not expected that the move will lead to significant changes.
Ahamed told the firm at the end of 2003 that he was planning to retire to found a DVD distribution business. Since that time the firm has been transitioning Casper into the role of solo-CEO. Ahamed will remain a consultant to the firm through the end of the year and has been working on a part-time basis since March 31.
"This is fairly routine in the sense that Liaquat and Stephen Casper had been co-officers and managed the firms together," Sarah Brown, director of business development told the MFWire. "It is sort of a natural thing to step into the role because they have been jointly making the decisions for three years," she added.
Those executives who had been reporting to Casper will continue to do so, said Brown, as there are no plans to search for a new COO.
The eight FFTW Funds represent a niche business at the fixed income specialist. All of the funds invest in bonds and together they hold just $900 million or so in assets. All counted FFTW managed more than $39 billion at the end of the first quarter of 2004, said Brown.
Sean Hanna, Editor in Chief
Stay ahead of the news ... Sign up for our email alerts now