Federated Investors has named a 26-year company veteran as the new president and chief executive officer of its investment advisory subsidiaries.

John Fisher succeeds Keith Schappert, who is departing the company after a four-year stint as head of the subsidiaries. Schappert will stay on for a month to assist in the transition and report to J. Christopher Donahue, president and chief executive of Federated Investors, as a senior advisor.

Fisher was most recently president of Federated Investment Counseling, a post he held since 1997 in which he oversaw all separately managed and sub-advised accounts.

In his new role, he will lead Federated’s 140-member investment management operation that manages $213 billion in assets.

"With a strong foundation in place in both our equity and fixed-income divisions, my role will be to retain and attract talented investment personnel as well as provide continuity and stability so that we can remain focused on producing outstanding performance for our clients," Fisher said in a statement. 

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