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Tuesday, July 21, 2015

CapGroup's Rothenberg Dies After Heart Attack

News summary by MFWire's editors

Jim Rothenberg, chairman of Capital Group, died on Tuesday after suffering a heart attack. The news was released by the board of the Los Angeles-based asset manager.

James F. Rothenberg
Rothenberg just celebrated his 69th birthday last week.

Rothenberg had been at CapGroup, which sponsors the American Funds, for 45 years, and he rose to chairman in October 2008. Rothenberg had also been one of 12 PMs for American Funds' giant flagship, the Growth Fund of America. He ranked fifth on MFWire's list of the most influential people in the mutual fund industry.

Rothenberg had been one of eight members of Capital Group's management committee. The other members include: Tim Armour, Kevin Clifford, Phil de Toledo, Darcy Kopcho, Rob Lovelace, Martin Romo and Brad Vogt.

The seven surviving members of the management committee released the news of Rothenberg's death in a statement.
His intellect, passion and energy were a source of inspiration to all of us and to our more than 7,600 associates worldwide.

Our hearts go out to his family and to all who were touched by his extraordinary talents.
CapGroup spokesman Tom Joyce confirmed to MFWire that the company already has a regular board meeting scheduled for next week.

"Succession planning is part of the DNA of the firm," Joyce tells MFWire. "When it comes to fund management responsibilities, for instance, there's plans in place for everyone."

Rothenberg was also a member of the ICI board of governors and executive committee at the time of his death. Paul Schott Stevens, ICI President and CEO, said that:
"We are deeply saddened by the news of the death of Jim Rothenberg today. Jim was truly a figure of great stature and presence within the fund industry, and an important contributor to our Board of Governors and Executive Committee.

"Jim was a great colleague and friend. Our thoughts and prayers are with his family, friends, and colleagues everywhere."
Neil Anderson also contributed to this story.  

Edited by: Sean Hanna, Editor in Chief


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