Today the Kansas City, Missouri-based $137-billion mutual fund shop revealed the appointment of David MacEwen and Victor Zhang as co-chief investment officers, after the departure of then-CIO and EVP Enrique Chang in April. MacEwen and Zhang both will report directly to Thomas, American Century's president and CEO. MacEwen will oversee the fixed income teams, while Zhang will oversee the equity ones.
Zhang hails from Wilshire, where he served as president of Wilshire Funds Management. Prior to that he served as CIO for the unit. He previously worked with Harris myCFO Investment Advisory Services and Ernst & Young.
MacEwen has served as American Century's fixed income CIO since 2001, and he first joined in 1991. He also worked with Provident and Bank of Delaware.
Thomas praised the new co-CIO duo as "strong client-centric leaders" with "significant asset management industry experience." Zhang, for his part, described Americna Century as "a quality money management firm" with a "reputation for investment excellence, client-centric approach and integrity."
Company Press Release
WILSHIRE EXECUTIVE VICTOR ZHANG AND DAVID MACEWEN NAMED CO-CHIEF INVESTMENT OFFICERS OF AMERICAN CENTURY INVESTMENTS
KANSAS CITY, Mo., December 11, 2013 — American Century Investments today announced that Victor Zhang and David MacEwen have been named co-chief investment officers (CIO) for the $137 billion* global asset management firm. Zhang comes to the company from Wilshire Funds Management, where he was president and chief investment officer, while MacEwen has been serving as chief investment officer over American Century Investments’ fixed income strategies since 2001. As joint heads of the investment management group, Zhang and MacEwen will serve on the company’s management committee and report to President and Chief Executive Officer Jonathan Thomas.
“Victor and Dave are strong client-centric leaders who bring significant asset management industry experience to their roles as co-CIOs,” Thomas said. “Their first priority will be to maintain the institutional quality of the existing investment approach used within each of our investment strategies. Going forward, Victor’s background with Wilshire – a premier investment consulting firm – will be invaluable as we continue to build our investment capabilities in response to evolving client demands. His skills are a nice complement to those of Dave, who over the course of a long and successful career, has distinguished himself as a skilled money manager and thought leader on a range of macro issues impacting investors. Working in partnership with the investment discipline CIOs, Victor and Dave will strive for the performance consistency, accountability and transparency that have long characterized our approach to serving and meeting the needs of our clients.”
As co-CIOs, Zhang and MacEwen will jointly lead the investment management function, sharing responsibility for the firm’s investment culture, performance processes, resource allocation and talent development. While both will serve on key investment management committees, they will divide leadership/chair roles. Together, co-CIOs Zhang and MacEwen will manage approximately 150 investment professionals based in Kansas City; Mountain View, Calif.; New York and London.
In terms of investment discipline responsibilities, Zhang will oversee the equity discipline CIOs who have day-to-day responsibility for the Global & Non-U.S. Equity, U.S. Growth Equity (Large Cap and Mid & Small Cap), U.S. Value Equity and Disciplined Equity & Asset Allocation teams. MacEwen will lead the company’s global fixed income operation, which includes U.S. and Non-U.S. capabilities in the areas of Government Bonds, Corporate Debt, Municipal Bonds and Money Market funds.
“I’m excited to be joining American Century Investments, a quality money management firm I’ve followed and admired for many years,” said Zhang. “I’ve been impressed by the company’s reputation for investment excellence, client-centric approach and integrity. Working with Dave, I know that we can build on the firm’s legacy of success as we grow and adapt to an ever-changing marketplace.”
Prior to joining American Century, Zhang was with Wilshire Funds Management for eight years, most recently serving as president and CIO. In his role as president, Zhang was responsible for the business unit’s overall strategic direction and investment platform, while as CIO, he led investment activities, including manager searches and portfolio management. He also was in charge of investigating new markets and the research and evaluation of new products for the firm. Previously, Zhang served as director of investments and held other senior investment positions with multi-family office firm Harris myCFO Investment Advisory Services, a subsidiary of Bank of Montreal. Earlier in his career, Zhang was a consultant with Ernst & Young, LLP.
“Working with Victor and our strong, experienced team of investment professionals, American Century Investments has the resources in place as we strive to deliver superior investment results to our clients,” said MacEwen. “It’s been gratifying to have been a part of the growth and success of our fixed income franchise, and I now look forward to leveraging that experience as I take additional leadership responsibilities in my new role as co-CIO.”
MacEwen joined American Century Investments in 1991 and has worked in the financial industry since 1982. Prior to joining the company, he was vice president of portfolio management for Provident Institutional Asset Management Corporation (currently BlackRock Advisors, LLC). Previously, he was a trust investment officer for Bank of Delaware (currently PNC Wealth Management). MacEwen holds a bachelor’s degree in economics from Boston University and a master’s degree in business administration with a concentration in finance from the University of Delaware. He is a member of the CFA Institute and the Security Analysts of San Francisco. He also serves on the Board of Trustees for Blair Academy in New Jersey.
Zhang’s appointment to co-CIO is effective February 17, 2014. He will be based at American Century Investments’ Kansas City headquarters. MacEwen’s promotion is effective immediately and he’ll remain at the firm’s Mountain View, Calif. offices.
American Century Investments is a leading privately held investment management firm, committed to delivering superior investment performance and building long-term client relationships since 1958. Serving investment professionals, institutions, corporations and individual investors, American Century Investments offers a variety of actively managed investment disciplines through an array of products including mutual funds, institutional separate accounts, commingled trusts and sub-advisory accounts. The company's 1,300 employees serve clients from offices in New York; London; Hong Kong; Mountain View, Calif. and Kansas City, Mo. James E. Stowers Jr. is founder of the company and Jonathan S. Thomas is president and chief executive officer. Through its ownership structure, more than 40 percent of American Century Investments' profits support research to help find cures for genetically-based diseases including cancer, diabetes and dementia. For more information, visit www.americancentury.com.
*Assets as of December 9, 2013
You should consider the fund’s investment objectives, risks, charges and expenses carefully before you invest. The fund’s prospectus or summary prospectus, which can be obtained by visiting americancentury.com, contains this and other information about the fund, and should be read carefully before investing.