A Triumvirate Cedes Power to a Sole CEO
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Thursday, January 31, 2019

A Triumvirate Cedes Power to a Sole CEO

A publicly traded asset manager is switching back to sole CEO leadership from a triumvirate.

Marc Mayer
Manning & Napier, Inc.
Marc Mayer is taking over as CEO of Manning & Napier [profile], effective immediately, confirms Bill Manning, co-founder and chairman of the Fairport, New York-based mutual fund firm. Since last March, Manning had been led by a trio of co-CEOs: president Jeff Coons, board member Richard Goldberg, and sales and distribution managing director and executive vice president Chuck Stamey.

"For 30 years, Marc has excelled in executive leadership, investment management and distribution roles at world-class asset managers, both on the buy-side and the sell-side, making him uniquely qualified to become the Chief Executive Officer of Manning & Napier," Manning states.

Mayer most recently served as head of distribution, North America for Schroders before leaving the British firm last May. Prior to that he led GMO and spent two decades at AB and Sanford Bernstein. He also worked at Squibb. He is an alumnus of Columbia Business School and of Yale.

Manning & Napier had $21.4 billion in AUM as of November 30, 2018. Leadership expects to report Q4 2018 earnings next week.

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