Richard S. Strong resigned as chairman, chief executive officer and chief investment officer of Strong Financial Corporation yesterday. Kethhen J. Wessels, former president of the Dain Rauscher Wessels Capital Markets division the investment banking firm Dain Rauscher, is now chairman and CEO. Richard T. Weiss, 12-year veteran of Strong, is now CIO.
The changes were made "effective immediately," according to a Strong release yesterday. Strong faces criminal charges from the New York Attorney Generals office, according to widespread reports.