The Wall Street Journal reports
that the CEO of Artio Global Investors
is stepping down.
, who has served as the firm's chief executive since 2007, according to >WSJ reporter Kirsten Grind, will cede the top position to president and COO Tony Williams
. Pell will remain with Artio as the CIO.
The company's lead independent director, Francis Ledwidge
, will become chairman.
Artio has lost nearly half its AUM In the last twelve months on heavy outflows, and now manages $17.7 billion.
Pell explained the move, Grind writes, by saying that the firm's clients will be best served by his focusing on generating return.
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