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Thursday, June 30, 2011

GMO Has a New Chief

News summary by MFWire's editors

CEO Marc Mayer just left GMO (Graham Mayo Van Otterloo & Co.) [see profile]. The Boston-based asset manager's Web site now lists Brad Hilsabeck, formerly head of global client relations, as the new chief, and Hilsabeck also took Mayer's GMO board seat.

Both Pensions & Investments and Bloomberg reported on the move.

A GMO spokesman told P&I that Mayer left today "to pursue other interests." Mayer first took the CEO spot two years ago. GMO co-founder and chief investment strategist Jeremy Grantham told both pubs that Hilsabeck "has everyone's trust [and] will be successful in this new role." Neither report offers an explanation for Mayer's departure. 

Edited by: Neil Anderson, Managing Editor


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