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

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

Rating:Rogers Shares the Reins Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 11, 2019

Rogers Shares the Reins

Reported by Neil Anderson, Managing Editor

John Rogers is sharing the reins.

Mellody Louise Hobson
Ariel Investments
Co-CEO, President
This morning, Rogers confirms that Ariel Investments [profile] president Mellody Hobson has been promoted to co-CEO and will become the 36-year-old fund firm's plurality shareholder after buying some of his shares. Rogers, founder and chairman of the Chicago-based fund firm, will shift from sole CEO to co-CEO and will remain chief investment officer.

Once Hobson's share purchase deal with Rogers closes, Hobson will own 39.5 percent of Ariel. Rogers will own 34.1 percent, other Ariel employees and board members will own 21.8 percent, and outside investors will hold 4.6 percent.

Rogers lauds Hobson as "an energetic and relentless member of the Ariel family."

"Her elevation to Co-CEO recognizes the reality that we have both led this firm for many years," Rogers states.

"This news is exciting, but unsurprising," Rogers writes in an open letter to "clients and friends" of the fund firm. "As many know, Mellody has spent her entire professional career of nearly 28 years at our firm and has served as Ariel's President since 2000."

Rogers also emphasizes that he isn't ready to ride off into the sunset himself just yet, despite Hobson's rise.

"While we are deliberately considering succession planning, rest assured, my own plan is to continue managing stock portfolios for at least another decade — if not more," Rogers writes. "I am confident Mellody is more than equipped to help take our firm to the next level. And I look forward to being right there, standing alongside her for this next phase."

An alumna of Princeton, Hobson started out at Ariel as a summer intern before joining full time at Ariel in client services and marketing upon graduation. She is vice chairman of the board of Starbucks and a board member of both the Estee Lauder Companies and J.P. Morgan Chase.

Ariel now has 104 employees and $13.1 billion in AUM across nine SMA strategies and five mutual funds. 

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