What does new Janus CEO have planned. Richard Weil, who took the top spot at Janus from interim-CEO Tim Armour earlier this year, gives his first major media appearance with the WSJ Fund Track
. (The paper is getting a twofer from the interview: The Tuesday article is similar to a shorter piece that ran in the Monday version of the column).
Weil's goal, writes reporter Daisy Maxey, is to make the firm famous for its focused and aggressive equity approach to stock picking more balanced. To do that, Weil plans to boost the mutual fund firm's fixed income capabilities and promote Intech, its quant-driven unit and Perkins, its value-focused arm.
Bonds, of course, are nothing new to Weil. He was most recently a top executive at Pimco which speaks for itself and Weil knows it:
"It's important that we compete and win in that hot segment of fixed-income, because we are good at it," Weil told Maxey.
Meanwhile, Maxey states that one of Janus' top challenges will be retaining its "top-flight" managers in an atmosphere that rewards the team over the individual. She points to the case of pm Laurent Saltiel, who is leaving to join AllianceBernstein at the end of the week.
Weil will also need to find a head for Janus' non-U.S. business as he plans to add to the Denver-based firm's overseas offerings.
Sean Hanna, Editor in Chief
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