AIM Investments Chief Investment Officer Ed Larsen has taken a leave of absence to resolve regulators inquiries into his role in market timing violations at the firm, the company announced in a letter to shareholders on its Web site Monday. Larsen made the request on his own, the company said.
In his absence, AIM Chief Equity Officer Phil Ferguson and Chief Fixed-Income Officer Bill Alley will continue their duties, reporting directly to President and Chief Executive Officer Mark Williamson.
"Combined, these professionals have more than 50 years of experience in investment management [and] remain committed to ensuring that our investment professionals deliver on our promise to build investment solutions for our clients and shareholders," Williamson said.
Larsen has been with AIM since 1996 and CIO since 2002. AIM and Invesco Funds agreed to pay $50 million in civil lawsuits in September, a settlement pending final approval by the SEC .