OppenheimerFunds has named a new CEO with no comment as to why. John Murphy has replaced Bridget Macaskill as head of the company, OppenheimerFunds announced on Friday.

The company will not comment on Macaskill’s departure, according to Greg Stitt, a spokesperson for the company. Macaskill, a well-known industry executive, joined OppenheimerFunds in 1983, and was named president in 1991 and CEO in 1995, according to the company. She was unavailable for comment.

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