OppenheimerFunds has appointed William F. Glavin, Jr. as CEO, effective January 1. Current Chairman and CEO John V. Murphy will remain the chairman and continue to serve as president and a director/trustee of the funds until his retirement at the end of next year.

“I look forward to working with Bill over the next year to ensure a smooth transition of leadership so we can build on our 50-year history of seeking investment excellence for fund shareholders and outstanding support to financial advisors,” Murphy said. “I have known and worked with Bill Glavin for the past several years, and am confident that, under his leadership, OppenheimerFunds will extend its long track record of success and strong performance.”

Glavin has been co-chief operating officer since July 2007 and has led Oppenheimer’s U.S. insurance group since March 2006. Glavin previously served as co-chief operating officer of Massachusetts Mutual Life Insurance Company (MassMutual) and was executive vice president and head of MassMutual’s U.S. insurance group.

OppenheimerFunds “is built on a foundation of seeking investment excellence and providing high-quality customer service for financial professionals and investors, and I am excited about the opportunity to help the company reach new heights of performance,” Glavin said.

He has a B.A. from The College of the Holy Cross.

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