The Investment Company Institute announced Tuesday that Brian Reid has been promoted to chief economist. Reid succeeds John Rea, who is retiring at the end of the year after 10 years of service.

Reid joined the ICI in 1996 and currently serves as assistant vie president and deputy chief economist of the Institute.

In his new role, Reid will be responsible for heading up the ICI’s research department, which handles all statistical collection and analysis of the fund industry. As a member of senior management, Reid will assist in crafting positions on policy matters that affect mutual funds and their investors. He will report directly to ICI President Paul Schott Stevens.

"Under the leadership of John Rea, research and data collection has become a hallmark of the Institute. Our members and mutual fund investors have benefited greatly from John’s leadership and expertise," Stevens said.

"Promoting Brian Reid to chief economist recognizes the depth and accomplishments of our research team. Brian will be a leader on the Institute staff and a strong voice for the industry’s research efforts," Stevens said.

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