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

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

Rating:Manning Returns His Namesake Fund Firm to a Familiar Structure Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 20, 2016

Manning Returns His Namesake Fund Firm to a Familiar Structure

Reported by Neil Anderson, Managing Editor

The CEO of Manning & Napier [profile] is retiring, and one of the firm's namesakes is stepping up. Yet it's a newly-created but familiar group that will run the firm day-to-day. MFWire interviewed Manning & Napier chief financial officer Jim Mikolaichik about the way the company will work post-Patrick Cunningham.

William Manning
Manning & Napier Advisors, LLC
Co-founder and Chairman of the Board
With Cunningham, age 60 stepping down as CEO, Bill Manning, 79, will be taking his place. Yet Manning, co-founder and chairman of the Fairport, New York-based mutual fund shop, will not be alone at the top. In a return to pre-IPO form, Manning has created a new, five-person operating committee, which includes: Mikolaichik, age 44 (a four-year company veteran); Ebrahim Busheri, 50, director of investments (17 years with the company); Jeffrey Coons, 52, president (27 years with the company); Charles Stamey, 55, executive vice president and managing director of sales (22 years with the company); and Richard Yates, 50, chief legal officer (15 years with the company).

Under the new leadership structure, Manning himself will be "really keeping his focus where he has been, around the strategic direction of the business," Mikolaichik says. Manning will be "a strategic compass" for the publicly-traded fund firm. Meanwhile, the operating committee will be "largely conducting all the day-to-day duties of the office of the CEO."

The new leadership structure is actually an old one for Manning & Napier.

"The operating committee is really a familiar structure for us, one we employed very successfully for about eight years leading into Patrick [Cunningham] being named CEO [in 2010] in preparation for our IPO," Mikolaichik says. The operating committee idea, he adds, is something that the Manning & Napier executives "feel very comfortable with."

The last time around the operating committee included three familiar faces (Coons, Cunningham, and Stamey) and two others (Reuben Auspitz and Jeffrey Herrmann).

Mikolaichik says that the new operating committee structure is "not defined in terms of a real time limit."

"I don't think it's seen as a forever program, but it certainly can carry us through the near- and medium-term," Mikolaichik says. "We did not want to put time boundaries on this."

"This structure gave us an easier mode of transition" from Cunningham running the company, Mikolaichik adds. "From an operational standpoint, it's a lot of business as usual." 

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

 Do You Recommend This Story?

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:
Add to My Yahoo!
follow us in feedly

  1. MFDF webinar - Board Oversight of ETFs, March 3
  2. FinReg Outlook 2021, March 10
  3. MFDF Director Discussion Series - Open Forum via Zoom (Midwest), March 10
  4. Irish Funds North American Digital Seminar, March 11
  5. MFDF webinar - Municipal and Taxable Fixed Income — A Multi-Speed Recovery, March 12
  6. 2021 Virtual Mutual Funds and Investment Management Conference, Mar 15-19
  7. Women for Impact - A Call to Action, March 16
  8. SEC & DOL Standard of Conduct Rulemakings — Present & Future Considerations, March 23
  9. Expect Miracles Foundation's Virtual Mystery Game Night, March 24
  10. MFDF Director Discussion Series - Open Forum via Zoom, March 24
  11. ETFGI Global ETFs Insights Summit - ESG & Active ETF Trends, Mar 24-25
  12. MFDF webinar - Asset Management M&A for Fund Directors — Recent Trends and Governance Issues, March 31
  13. MFDF Director Discussion Series - Open Forum via Zoom, April 7
  14. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  15. ETF.com Awards 2020, April 20
  16. The 31st Sub-Advised Funds Forum, Apr 20-21
  17. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  18. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  19. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  20. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  21. ICI 2021 General Membership Meeting - Day 1, May 6
  22. ICI 2021 General Membership Meeting - Day 2, May 13
  23. 2021 FINRA Annual Conference, May 18-20
  24. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  25. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  26. Irish Funds Online Annual Global Funds Conference 2021, May 19-20

©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