Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:John Calamos Prepares to Give His Team a Bigger Stake as Nick Calamos Cuts Another Tie Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 04, 2013

John Calamos Prepares to Give His Team a Bigger Stake as Nick Calamos Cuts Another Tie

Reported by Neil Anderson, Managing Editor

Nick Calamos is about to leave Calamos Asset Management [profile] entirely, even as John P. Calamos, Sr. prepares a new way for his key people to invest in the company.

Today the Naperville, Illinois-based, publicly-traded mutual fund shop revealed that Nick Calamos, who stepped down as Calamos' co-CIO last year, is now leaving Calamos' board of directors, too, "to further pursue his interests in education and philanthropy." According to a company statement sent to MFWire, Nick Calamos "will no longer be working for the firm when the deal is closed," which is expected to be tomorrow.

When Nick Calamos officially departs, the four-year-long clock on the non-compete and non-solicitation parts of his separation agreement will begin ticking. He also already agreed to sell John Calamos (Nick's uncle and Calamos' CEO and global co-CIO) his stake in Calamos Family Partners, the privately held entity through which the family controls the company.

"Now is a good time for me to step down so that I can focus more on my academic and charitable activities," Nick Calamos stated. "I know the firm's future is bright."

"We wish Nick the best in his future pursuits," John Calamos stated.

Meanwhile, John Calamos confirmed that he plans to create Calamos Partners "as a vehicle to increase the ownership in the firm by senior executives," according to the company statement. Calamos Investments." Currently, CFP owns 78 percent of Calamos and has 97.4 percent of the voting rights, while the remaining 22 percent of the stock (and 2.6 percent of the voting rights) are publicly traded on the NASDAQ [see description of Calamos' corporate structure]. Expect more details on the changes once Calamos Partners launches.

"Over the years, I have sought to align senior portfolio management and executives with the long-term objectives of the firm and interests of our shareholders," John Calamos stated. "Calamos Partners will enable the firm to strengthen its alignments with key talent."

Today's changes come after several key personnel changes, including the September 30 departure of then-president and chief operating officer James Boyne and the hiring of fixed income PMs Jeremy Hughes and Chris Langs.


Company Press Release

Calamos Announces Board Change and Intent to Form Calamos Partners

NAPERVILLE, Ill., Dec. 4, 2013 -- Calamos Asset Management, Inc. (NASDAQ: CLMS), a global investment firm, today announced that Nick Calamos is leaving the Calamos Board of Directors to further pursue his interests in education and philanthropy. The move follows his decision to step away from his day-to-day role with the firm in August 2012 and his agreement to sell to John P. Calamos, Sr. his private interest in Calamos Family Partners. The separation agreement includes non-compete and non-solicitation provisions which extend for a period of four years following Nick's departure.

As a result of this transaction, John P. Calamos, Sr., Chief Executive Officer and Global Co-Chief Investment Officer of Calamos Investments, has announced his intention to form Calamos Partners, in order to allow senior portfolio management and executives of the firm to participate in the private ownership of Calamos Investments. In discussing the formation of Calamos Partners, he stated, "Over the years, I have sought to align senior portfolio management and executives with the long-term objectives of the firm and interests of our shareholders. Calamos Partners will enable the firm to strengthen its alignments with key talent."

John P. Calamos, Sr. also said, "We wish Nick the best in his future pursuits. Over the last 18 months we have significantly strengthened the Calamos Board of Directors with the appointments of Global Co-CIO Gary Black, Thomas Eggers, Keith (Kim) Schappert and William Shiebler, all of whom have held the role of CEO at asset management firms."

He continued, "The firm is well positioned for future growth thanks to the strengthening of our investment team and the expansion of our investment strategies, including alternatives, value and high yield."

Nick Calamos said, "Now is a good time for me to step down so that I can focus more on my academic and charitable activities. Our new Board members are working very well together. John and Gary have added significant resources to the investment team and investment performance has improved on several key strategies. I know the firm's future is bright."

About Calamos

Calamos Asset Management, Inc. (NASDAQ: CLMS) is a diversified global investment firm offering innovative investment strategies including equity, fixed income, convertible and alternative investments, among others. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London and New York.

For more information, please visit www.calamos.com.

*Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP and Calamos Financial Services LLC.

SOURCE Calamos Asset Management, Inc.

Jennifer McGuffin, Director of Corporate Communications, +1 630 245 1780, media@calamos.com
 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. ETF.com Awards 2020, April 20
  2. The 31st Sub-Advised Funds Forum, Apr 20-21
  3. IDC Virtual Roundtable: Florida - April 2021, April 20
  4. IMEA Marketing Council Roundtable | Engaging Advisors In a Virtual World, April 21
  5. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  6. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  7. IDC Virtual Roundtable: Alabama, Georgia, North Carolina, and South Carolina - April 2021, April 22
  8. IDC Webinar: The Future of the Workplace - April 2021, April 23
  9. IDC Virtual Roundtable: Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas - April 2021, April 27
  10. MFDF Case Studies in Fund Oversight — A Virtual Roundtable for Directors, Apr 28-29
  11. IDC Virtual Roundtable: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota - April 2021, April 29
  12. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  13. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  14. ICI 2021 General Membership Meeting - Day 1, May 6
  15. Emerging Manager Forum USA, May 12-14
  16. ICI 2021 General Membership Meeting - Day 2, May 13
  17. 2021 FINRA Annual Conference, May 18-20
  18. IDC Speaker Series - Abby Joseph Cohen: A Conversation About the State of the Global Markets, May 19
  19. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  20. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  21. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  22. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20
  23. ICI 2021 Operations and Technology Conference, May 20
  24. MFDF webinar - Board Oversight of a Fund's Derivatives Risk Management and Fund Compliance With Rule 18f-4, May 24
  25. MFDF webinar - The Use of Alternative Data Sources and Considerations for Fund Directors, May 26
  26. IDC 2021 Virtual Fund Directors Workshop, June 3




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use