David Tripple, the chief executive officer at Pioneer US, has stepped down for personal reasons, effective September 30. A search to identify his replacement has commenced.

"We're considering suitable internal and external candidates," said a Pioneer spokesperson, further saying that the replacement time frame is simply "as long as it takes."

"I remain confident that our Global management team will produce the strong, investment, operational and financial results that we expect," said Pietro Modiano, chairman of Pioneer Global, who will temporarily assume Tripple's responsibilities.

"[The departure] really won't have much impact at all," said a spokesperson, when asked how Tripple's decision affected Pioneer's internal workings. "The management team is in place, and those people will continue to fill their roles."

Pioneer Investment Management together with its Ireland-based affiliate, manage over $96 billion, including approximately $19 billion for US investors.

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