The only president the Money Management Institute has ever known is saying goodbye next year.

Today Joseph Schultz, chair of MMI and senior vice president and head of intermediary sales at American Century, confirmed that MMI founding president Chris Davis plans to retire in 2015. The managed account trade group's board of governors has hired industry recruiter George Wilbanks to find Davis' successor.

Davis confirms that he expects to stick around through second quarter of next year, or longer, to help with the transition as MMI finds and brings on his successor. He expects to keep a lower profile in the industry, perhaps as part-time contributor to MMI.

"Every executive wants to go out on his schedule and his terms," Davis says. "I'm very pleased to be able to do that."

Davis, who turns 66 next year, is an alum of the Carter administration, of law firm Surrey & Morse, of UNC Chapel Hill, and of SUNY Buffalo. He's been with MMI since its beginning 17 years ago, when the "managed solutions industry" was $137 billion; now its more than $3.8 trillion, with almost 200 firms representing 95 percent of those assets as allies of MMI.

"It is difficult to imagine our association without Chris," Schultz states. "The only President we have had since MMI's founding in 1997, his leadership, industry knowledge and dedication to our organization and its principles have been critical factors in MMI's growth, development and current standing in the industry." 

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