Sometimes, you have to try new things.

On July 1, Art Steinmetz took over as CEO of OppenheimerFunds, succeeding Bill Glavin.

InvestmentNews dubbed Steinmetz's promotion an experiment, and a potentially risky one, given that he is the first investment manager to lead OppFunds.

The article provides some interesting color into Steinmetz, who brews his own beer at home, studied Russian at Denison University and washed out of Air Force flight school.

Delving into setbacks OppFunds' bond managers experienced during the financial crisis of 2008, the InvestmentNews article looks into Glavin's housecleaning after the crisis as well as the evolution of the investment team during Steinmetz's tenure as president.

So far, the housecleaning seems to be making investors happy: InvestmentNews reports that the firm saw last year a record $17.3 billion in net inflows, and saw flows of $6.1 billion during the first half of this year. 

Edited by: Tommy Fernandez


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