The hunt is on for a new chief investment officer at an $18-billion managed account specialist. Meanwhile, though the shop recently shut down a line of mutual funds, its chief remains open to returning to that business in the future.
| Noreen Beaman|
Chief Executive Officer
As previously reported
, Brinker Capital
CIO Bill Miller
just resigned, and Chris Hart
and Jeff Raupp
stepped up to lead investing on an interim basis. Noreen Beaman
, CEO of the Berwyn, Pennsylvania-based shop, tells MFWire
that "time will tell" whether or not she names a Brinker insider or hires an outside as the next CIO.
"We're open-ended on the time-frame," Beaman says. "We have a very deep bench. We want to find the right cultural fit."
"We will be bringing in additional talent during this process as well," Beaman adds, declining to reveal specific. "We're going to be looking for talent in different areas ... We are making investments in our business."
Meanwhile, last month shut down
three liquid alternative mutual funds, the Crystal Strategy Fund
, which it had launched two years ago. Brinker focuses on the managed account business and uses mutual funds inside its portfolios, Beaman says, yet she doesn't preclude the possibility of trying their hands at creating their own mutual funds again sometime.
"It's not putting us off having a '40 Act fund," Beaman says. "We would stay open to creating the best vehicles to create the best services. If we can't find a vehicle that delivers an investment solution, we may re-wrap it in a '40 Act Fund."
"The most important part is what's the right vehicle to deliver the source," Beaman adds.
She stresses that Brinker is very committed "to the wealth advisory space."
"We're looking to bring best-in-class investing products to our clients," Beaman says.
Stay ahead of the news ... Sign up for our email alerts now