American Century Investments of Kansas City, Mo. has named Robert C. Puff, Jr., 55, to the newly created post of chairman of the firm's investment management division. Puff, who has been president and chief investment officer, will assume his new role July 1.
Puff has been with American Century for 18 years. He will be moving from Kansas City to the East Coast and will be reducing his involvement in day-to-day operations. In his new role as chairman, he will focus on overall investment business strategy and the development of American Century's investment management teams, the company said.
Under Puff's leadership, American Century has increased assets under management by 400 percent, to $95 billion, the company said. He has led the firm's development of various investment disciplines, in addition to expanding the firm's investment management staff to 250 individuals, said the company.
Randy Merk, 46, currently senior vice president and chief investment officer for American Century's fixed-income unit, will succeed Puff as president and chief investment officer, the company said. In his new role, Merk will be responsible for all of the firm's investment management, research and trading functions, and will also oversee the firm's institutional separate account business.
G. David MacEwen, 39, will succeed Merk and assume the role of chief investment officer for fixed-income, overseeing $15 billion in assets.