Neil Hennessy is not saying goodbye just yet, but the fundster entrepreneur is passing another one of his key hats, this time to an eight-year company veteran.

Ryan C. Kelley Hennessy Funds Chief Investment Officer, Senior Vice President, Portfolio Manager

On Monday, Hennessy (chairman and CEO of Hennessy Advisors [profile] and chairman and PM of Hennessy Funds) confirmed that Ryan Kelley is taking on Hennessy's old role as chief investment officer of Hennessy Funds. Hennessy himself, meanwhile, will now serve as chief market strategist for his eponymous mutual fund family.

"I have had the pleasure of working closely with Ryan for nearly a decade," Hennessy states. "He has consistently demonstrated a high level of excellence in portfolio management and commitment to our Fund shareholders, and we are very pleased to promote him to lead our team of investment professionals."

Kelley, for his part, states that he's "thank for this opportunity ... to take on a larger role in leading strategic and operational initiatives."

Kelley's promotion follows Hennessy's move, three years ago, to hand off another hat by promoting a new president for Hennessy Funds.

Kelley, who is based in Chapel Hill, North Carolina, joined Novato, California-based Hennessy Advisors in 2012, after the firm's purchase of FBR's mutual fund business. Prior to that, he spent more than 15 years with FBR, rising from investment banking associate and equity analyst to PM. He is an alumnus of Oberlin College. 

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