An Empire State mutual fund boutique's president is passing the reins to a fellow 25-year company veteran.

Michael "Mike" Luper Olstein Capital Management President, Chief Operating Officer, Chief Financial Officer

Mike Luper , senior executive vice president and chief financial officer of Olstein Capital Management , is succeeding Erik Olstein as president and chief operating officer of the Purchase, New York-based firm. Olstein, who is nephew of Olstein CM founder Robert Olstein, has resigned to pursue other interests. Luper will continue to serve as CFO in addition to his new roles.

Regarding Erik Olstein's exit, Luper tells MFWire, "Erik is involved in a lot of charitable causes and things like that. It seemed like the right time for him to move on."

Meanwhile, Robert Olstein describes Luper as "clearly the best person for this position" as president and COO and notes that Luper has been with the firm since inception in 1995.

"We've done a lot of work in the last several years trying to streamline work," Luper tells MFWire. "It's an exciting and challenging business we're in, being a boutique manager, where we have to streamline organization and build a business that's as low cost as possible."

In addition to day-to-day management of Olstein CM, Luper's responsibilities include oversight of client development and relationship management, compliance, sales, marketing and business development.

"I think the environment that we're in right now is an exciting time for a business like ours," Luper says. "We bring our unique skill set to the table with how we manage. There aren't a lot of firms that do things the way we do."

Before joining Olstein Capital Management in 1995, Erik Olstein served at Smith Barney Inc. and Lehman Brothers.

Prior to his time at Olstein, Luper served as an accountant at J.H. Cohn, LLC. He earned his degree from The College of New Jersey.

Olstein CM specializes in multi-cap value and SMID-cap strategies, and it has about $615 million in AUM. 

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