has his job cut out for him when he takes the helm of Brandes Investment Partners
] in February, according to Pension & Investments
on the Brandes announcement last week that current chief executive Glenn Carlson
would be stepping down, to be replaced by Woods.
Poor performance in its two largest strategies — international equity and global equity — fueled billions in outflows. Assets under management at the San Diego-based firm plummeted to $29.8 billion as of Sept. 30, from $111 billion at the end of 2007, according to information from investment data provider eVestment Alliance, Marietta, Ga., and Brandes, P&I
Brandes announced last week in a client letter that longtime CEO Glenn Carlson would be stepping down for “personal and professional reasons.” Mr. Carlson will be replaced on Feb. 1 by Brent Woods, the managing director of investments and a 17-year Brandes veteran.
Read more in Pension & Investments
Stay ahead of the news ... Sign up for our email alerts now