Timothy “Tim” Armour is one of the leading candidates considered to succeed former Capital Group Chairman Jim Rothenberg following the latter’s sudden death. Rothenberg passed away while on vacation after suffering a heart attack. His death left an executive vacancy for the group that manages over $ 1.4 trillion in assets.
Tim has been a prominent figure in the fight against index tracker funds. Capital Group has lost considerable market share to a new age of passive fund managers, and the new chairman faces a tough challenge to regain lost market ground. Owing to Rothenberg’s sudden demise, a board meeting has been called to choose the next chairman as well as to oversee a management reshuffle.
Tim presently holds the position of chair of the management committee. He has long worked as Rothenberg’s deputy, a coveted position that saw him groomed by the deceased to one day lead the company. He has long championed for an in-house research system that will show the potential long-term benefits of active fund management.
In 2015, Capital Group’s mutual funds brought in more new capital than any other company thanks to its newly sharpened sales operations team. However, in a previous Financial Times’ interview, Tim Armour said that people should not only rely on benchmark returns since there were other better alternatives out there.
The chairmanship position so far has shaped out to be a two-way fight between Tim Armour and Rob Lovelace. Rob is the grandson of Capital Group’s founder, Jonathan Lovelace. He is an investment specialist focused on emerging markets. According to Alec Lucas, a Morningstar analyst, Rob Lovelace’s candidacy is not purely based on birthright, but by his leadership and accomplishments.
Timothy Armour is the Chairman and CEO of Capital Group as well as its subsidiary Capital Research and Management Company. Timothy is also the chairman of Capital Group Companies Management Committee and a portfolio manager based in Los Angeles, California. He has accumulated an impressive investment experience that has seen him propel to the top executive management position at the company.
Tim has an economics degree from Middlebury College. He started his investment career at Capital Group when he participated in its associate’s program. After completing the program, Tim became an equity investment analyst for the company. He covered U.S. service companies and global telecommunications. He has since worked for the Capital Group for over 33 years.
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