The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:GMO Appoints a CEO for the First Time Not Rated 1.0 Email Routing List Email & Route  Print Print
Wednesday, February 11, 2009

GMO Appoints a CEO for the First Time

by: Armie Margaret Lee

Grantham, Mayo, Van Otterloo & Co. hired AllianceBernstein executive Marc Mayer as its first ever CEO. Mayer, whose appointment takes effect March 2, was most recently executive vice president and chief investment officer of blend solutions at New York-based AllianceBernstein.
Marc Mayer
Incoming CEO

Mayer will be Boston-headquartered investment manager's first CEO since its founding in 1977. GMO, which also has offices in San Francisco, London, Zurich, Singapore and Sydney, has more than 400 employees.

"As the scope and complexity of our firm grew, it seemed increasingly desirable to engage someone with both a proven general management capability and a broad investment background," said Jeremy Grantham, GMO's chairman and chief investment strategist, in a news release.

GMO gears its mutual funds primarily toward the institutional market. On the retail side, it does sub-advisory work for Evergreen Investments (now part of Wells Fargo) and John Hancock Funds.

At AllianceBernstein, Seth Masters will take on Mayer's duties in addition to his current role of leading AllianceBernstein's defined contribution investment-only efforts, company spokesman John Meyers told The MFWire. Masters served as CIO of blend solutions for six years prior to taking the helm of the DC I-O business last fall.
Company Press Release

Boston, MA, February 11, 2009 -- Global investment management firm GMO LLC announced today that the firm's Board of Directors has named Marc Mayer chief executive officer, effective March 2, 2009. Mr. Mayer, formerly executive vice president of AllianceBernstein and chief investment officer of the firm's asset allocation group, assumes leadership of GMO from the firm's Executive Office, completing GMO's transition from a collective management structure to a more efficient and effective model. Mr. Mayer will report to the Board of Directors of GMO.

The firm believes that vesting management authority in a single executive allows its senior partners to focus exclusively on the areas they supervise directly, while firm-wide management decisions can be handled with expediency by the chief executive. "GMO has always been an investment firm first and foremost," said Jeremy Grantham, GMO's chairman and chief investment strategist. "As the scope and complexity of our firm grew, it seemed increasingly desirable to engage someone with both a proven general management capability and a broad investment background. Marc seems to us to be just that person." Mr. Grantham added, "The driving force behind this change is, as it always has been, to produce the best performance we can for our clients."

In his 20 years at AllianceBernstein and predecessor company Sanford C. Bernstein & Co., Mr. Mayer served in a wide range of leadership positions and was a member of the firm's Management Executive Committee. He has been the president and director of the AllianceBernstein mutual funds since 2004. From 2003 to 2008 he was executive managing director of the AllianceBernstein Investments retail business, and from 2001 to 2003, headed AllianceBernstein Institutional Investments. Previously, Mr. Mayer was president of Bernstein Institutional Research Services and CEO of Sanford C. Bernstein & Co., LLC, AllianceBernstein's brokerage subsidiary, where he was responsible for institutional research, sales and trading, and served on Bernstein's board of directors. From 1992 to 1998, he directed the highly respected institutional research effort for Bernstein after joining the firm as a research analyst in 1989, following six years at the Squibb Corporation. Mr. Mayer earned his BA in philosophy from Yale University and an MBA from Columbia University.

GMO is an independent, global investment management firm serving corporate, public, endowment and foundation institutional clients. Founded in 1977 on the philosophy of disciplined value-oriented investing and constant innovation, GMO has grown to become one of the world's premier asset management firms. Based in Boston, the firm also has offices in San Francisco, London, Zurich, Singapore, and Sydney and employs more than 500 people worldwide. As of December 31, 2008, GMO managed $86 billion for clients across a broad range of asset classes, using a blend of traditional judgments with innovative quantitative methods to find undervalued securities and markets. Additional information on GMO is available at www.gmo.com.

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. MFDF webinar - Lessons Learned from the Regional Bank Volatility and the Impact on Registered Funds, June 18
  2. IMEA webinar - Snapshot on the Talent Landscape, June 18
  3. 2024 MMI National Accounts Roundable, June 18
  4. MMI webinar - RIA Consolidators: The New Key Accounts?, June 20
  5. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20
  6. New York YPEM Cornhole Classic, June 25
  7. Celebrating 100 Years of the Mutual Fund, June 25
  8. 2024 MMI Institutional Roundtable, June 26
  9. Morningstar Investment Conference Conference 2024, Jun 26-27
  10. WE PNW Seattle - Pickleball and Networking, June 27
  11. Celebrating 100 Years of the Mutual Fund, July 11
  12. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 16
  13. MFDF Director Discussion Series - Open Forum via Zoom, July 17
  14. MFDF Director Discussion Series - Open Forum (New York), July 23
  15. IMEA Portfolio Construction Roundtable, September 19
  16. MFDF Continuing Regulatory Impacts on Fund Boards program, October 15
  17. 2024 MMI Annual Conference, Oct 15-17
  18. IMEA Philanthropic Day, October 22
  19. IMEA Leadership Summit, October 23
  20. IMEA Star Awards Celebration, October 23
  21. IMEA Marketing Summit, October 24
  22. 5th Annual ETFGI Global ETFs Insight Summit, October 29
  23. MFDF Director Discussion Series - Open Forum (Denver), November 6
  24. MFDF webinar - Digital Assets in the Fund Space (part 2 of 2), November 7
  25. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  26. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use