First Eagle Investment Management has promoted CEO John Arnhold to chairman and chief investment officer and Bridget A. Macaskill, the former CEO of OppenheimerFunds for 10 years, from president and chief operating officer to president and chief executive officer.

Macaskill “is a natural manager who creates alignment, synergy and excitement throughout the organization,” Arnhold said. “I am pleased to have someone in place with her experience and capabilities to help develop the strategic direction and manage the day-to-day activities of First Eagle. This role plays to her strengths and allows me to focus more on my true passion: value investing.”

Macaskill said, “Having worked closely with John and the outstanding team at First Eagle, I am thrilled by this opportunity. I have the utmost respect for this organization and am pleased to further its mission of providing long-term, value-driven investments to retail and institutional clients.”

First Eagle has $39 billion in assets under management.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.