The board of directors of Capital group on 28th July announced that Tim Armour was elected the chairman of the capital group. At the time, he was the chairman of capital group’s management committee. The election of Tim as the chairman was the reflection of the leadership succession plan that began several years back. It was however formalized after the former chairman, Jim Rothenberg passed. Tim Armour has developed a philosophy that indicates that investors should find managers who are active and who can earn their keep. He believes that most of the financial managers in the market have become lazy, they rely on index funds rather than researching on companies. Tim explained his belief in a wall street journal where he pointed out that index funds cannot make distinctions on business and more information click here.
Tim spearheaded the partnership between the capital group and Samsung asset management. The collaboration involved the two working together to co-develop retirement solutions and allocation of asset products. Samsung aims to be one of Asia’s top asset management company. Collaborating with the capital group will create a broader plan which is to co-design investment solutions to fulfill retirements, savings and insurance linked needs of Korean investors. Immediately after Tim took the Helm in the capital group, he was tested by the market events of August 2015. The Dow Jones index fell by 521 points in one day which was a catalyst of the downward trend of the Shanghai Composite. While many investors panicked, Tim remained calm and attributed the trend to a previous market correction reaction to a six-year bull market; he turned out to be right. According to Janet Yang, capital group stays focused on generating long-term results and committing to financial advisors. The move has enabled the company to become one of the world’s largest asset manager who has also earned it a corporate culture grade A and learn more about Timothy.
About Timothy Armour
Timothy is the chairman and the chief executive officer of Capital group. He is also the chairman of the capital group management committee. He has a 34 years experience investment with the capital group. Timothy started his career at Capital as a participant in the associate program. He is based in Los Angeles and holds a degree in economics from Middlebury College and resume him.
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