New York-based W.P. Stewart & Co. has hired Michael Maquet as chief executive officer, effective June 10. Maquet joins W.P. Stewart from Madison Square Investors, a wholly owned subsidiary of New York Life Investments, where he served in the same capacity.
"I look forward to working with him in developing the company and welcome the opportunity to devote more of my time to expanding the global investment strategy of W.P. Stewart," stated Mark Phelps, president and managing director.
The firm currently manages one mutual that is open to U.S. investors, dubbed the W.P. Stewart & Co. Growth Fund (WPSGX), which launched on February 28, 1994 and currently manages $20 million in assets as of the end of March. All told, W.P. Stewart manages some $2 billion in assets.