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Monday, November 12, 2012

Brandes' New Chief Has a Lot to Prove

News summary by MFWire's editors

Brent Woods has his job cut out for him when he takes the helm of Brandes Investment Partners [profile] in February, according to Pension & Investments.

MFWire reported 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 reports.

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

Edited by: Tommy Fernandez

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