After 37 years with Capital Group [profile], one of the firm's top leaders is about to pass the reins.

At the end of October, American Funds Distributors CEO Kevin Clifford, age 63, will retire and pass the reins to Matt O'Connor, 47, a Cap Group spokeswoman confirms. Both Clifford and O'Connor are members of the 10-person management committee that runs Cap Group.

O'Connor already serves as both president of American Funds Distributors and head of distribution in North America for Cap Group. He will keep both roles in addition to taking over Clifford's spot.

Clifford has worked with Cap Group since 1981, longer than any other member of the management committee. He rose to president of American Funds Distributors in 1998, then to CEO in 2002, leading distribution through the rough post-financial crisis years at the firm.

O'Connor joined Cap Group in 2008. Prior to that he spent 15 years at Putnam. He is an alumnus of Babson and of Saint Anselm. 

Edited by: Neil Anderson, Managing Editor


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