Look for changes in Artio Global Investors leadership, with Richard Pell stepping down as chairman and chief executive officer tomorrow.
Replacing him at the helm will be current president and Chief Operating Officer Tony Williams and lead independent director Francis Ledwidge, who will succeed Pell as CEO and Chairman, respectively. Williams will also join the firm's board of directors.
Meanwhile, Pell will turn his focus to investment management, handling the day-to-day management of the company's international equity strategies together with co-manager and head of international equity, Rudolph-Riad Younes. Pell will also oversee Artio's equity and fixed-income strategies.
“Generating long-term investment performance for our clients remains the key determinant of the success of our business," Pell said in a press statement. "Accordingly, we believe that our clients and shareholders are best served if my time is devoted exclusively to that endeavor."
"The overarching goal is clear; we must return Artio to growth," Williams stated. "I look forward to continuing our efforts to do just that, seizing on the near-term opportunities in fixed income and over time returning our international equity products to positions of strength and growth."