HARTFORD, Conn., March 1, 2021 /PRNewswire/ -- Virtus
Investment Partners (NASDAQ: VRTS), which operates a
multi-boutique asset management business, today announced that
Timothy A. Holt has been elected chairman of the company's
Board of Directors as part of the board's succession plan. He
replaces Mark C. Treanor, who,
pursuant to board policy, is scheduled to retire from the board
this spring.
Treanor had been chairman of the board since Virtus became an
independent public company in 2009. Holt also has served on the
board since 2009 and most recently was chairman of the board's
Governance Committee and a member of the Compensation Committee. He
continues to serve on both committees.
"I want to thank Mark for his invaluable guidance and tireless
work on behalf of the company and the board for the past 12 years.
Under his leadership, we established a strong governance and
operational foundation for the board that has been an important
element in creating value for our shareholders. He has been an
exceptional partner to me and the management team," said
George R. Aylward, president and
chief executive officer.
"Tim brings a comprehensive understanding of the company from
his long tenure on the board and his leadership role on several
committees. His experience in investment management and as a senior
corporate leader has helped guide the growth of our business and
will continue to serve our shareholders very well," Treanor said.
"I have been proud to serve as chairman for these past 12 years and
congratulate Tim on his transition to board chairman."
Holt held various positions with Aetna, Inc. from 1977 until his
retirement in 2008 as senior vice president and chief investment
officer, a position he held for more than a decade. Previously he
was chief enterprise risk officer, senior vice president and chief
financial officer of Aetna Retirement Services, and vice president,
Finance, and treasurer. He began his career with the company in
investment management.
Prior to joining Virtus as non-executive chairman of the board,
Treanor served as senior executive vice president, general counsel
and secretary of Wachovia Corporation from 2001 to 2008, with
responsibilities for legal, regulatory, corporate governance and
government relations activities. He previously held similar
responsibilities as executive vice president, general counsel and
secretary of First Union Corporation, Wachovia's predecessor, which
he joined in 1998 after serving as president and senior partner of
the law firm Treanor, Pope & Hughes, which he founded.
About Virtus Investment Partners, Inc.
Virtus
Investment Partners (NASDAQ: VRTS) is a distinctive
partnership of boutique investment managers singularly committed to
the long-term success of individual and institutional investors.
The company provides investment management products and services
through its affiliated managers and select subadvisers, each with a
distinct investment style, autonomous investment process, and
individual brand. Virtus Investment Partners offers access to a
variety of investment styles across multiple disciplines to meet a
wide array of investor needs. Its affiliated managers include
Ceredex Value Advisors, Duff & Phelps Investment Management,
Kayne Anderson Rudnick Investment Management, Newfleet Asset
Management, NFJ Investment Group, Seix Investment Advisors, Silvant
Capital Management, and Sustainable Growth Advisers. Additional
information is available at virtus.com.
Forward-Looking Information
This press release
contains statements that are, or may be considered to be,
forward-looking statements. All statements that are not historical
facts, including statements about our beliefs or expectations, are
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995, as amended. These
statements may be identified by such forward-looking terminology as
"expect," "estimate," "intent," "plan," "intend," "believe,"
"anticipate," "may," "will," "should," "could," "continue,"
"project," "opportunity," "predict," "would," "potential,"
"future," "forecast," "guarantee," "assume," "likely," "target" or
similar statements or variations of such terms. Our forward-looking
statements are based on a series of expectations, assumptions and
projections about the company, are not guarantees of future results
or performance, and involve substantial risks and uncertainty as
described in our most recent Annual Report on Form 10-K and our
filings with the Securities and Exchange Commission, which are
available in the Investor Relations section of our website,
www.virtus.com. All forward-looking statements are as of the date
of this release only. The company can give no assurance that such
expectations or forward-looking statements will prove to be
correct. Actual results may differ materially. You are urged to
carefully consider all such factors.
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SOURCE Virtus Investment Partners, Inc.