Tom Baily, who founded mutual fund giant
Baily will continue his duties as chairman of the board of trustees that oversees the Janus funds and will continue to review the firms fund performance, the company said.
Spokeswoman Jane Ingalls said that the firms founder "believes its the right time to shift his focus from his operational role as CEO to a fiduciary role as trustee." In addition, she said Baily had confidence in a new executive team that includes Helen Young Hayes, Janus managing director of investments, and Jim Goff, director of research, who have overseen the firms investment team since they were appointed to those posts early this year. "Theres continuity there," she said.
Ingalls said Bailys departure has nothing to do with turbulence in the markets or the economy. "Toms career spanned 33 years," she said. "He has managed through good markets and bad markets."
Baily announced his departure this week. Janus will work with its parent company,
