Tim Armour was named chairman of Capital Group, home of American Funds, one of the world’s leading investment management firms, on July 28,2015.
Capital Group began business in 1931 in Los Angeles California. It is one of the oldest and longest running investment firms, with offices in the US, Canada, and Asia. it provides research and investments services to investors.
Tim Armour will collaborate with senior members of the firm’s management committee to set, communicate, and implement Capital’s business strategies and operations. Though the change of leadership has been underway for several years, the untimely passing of former Chairman, Jim Rothenberg at age 69, lead to the formalized succession of Tim Armour to being named chairman of Capital Group.
At the time of Jim Rothenberg death, Tim served under him, as a key deputy among executives of the Capital’s management committee. The committee has helped to advance in-house research design to strengthen long-term benefits of certain kinds of active fund management.
Tim Armour began his long career with Capital through the company’s Associate Program in 1983. During his 32 tenure with Capital he served as an equity investment manager covering global telecommunications and US service companies and as an equity portfolio manager, a position that he held before being named chairman of Capital Group.
He has played a key role in Capital’s decisions over recent years to lift the veil of secrecy around it’s operations and to engage more with the media.
His position on Capital’s eight-person management committee, which is referred by Capital as a collegiate style of management, gives the company an advantage of moving forward more quickly and without interruption in business when there is a death, illness, or a departure of a key individual.
The collegiate committee style of management was created by Jon Lovelace in 1953. He divided each portfolio among several managers. The “Capital system” as it became called served to protect the company against potential “stars” who could impact a portfolio if they should leave the company.
Armour with senior members Rob Lovelace, president of Capital Research and Management Company and Phil de Toledo president of Capital group will join forces to carryout Capital business and principles.
Armour has a BA in economics from Middlebury College.