US - Portfolio manager at Denver-based Janus Capital Management, Helen Young Hayes, is to quit the firm in June.
The news is widely regarded as a blow for struggling Janus and comes as the firm announces a search for a chief investment officer.
Hayes currently serves as managing director of investments and co-manager for the Janus worldwide and international growth portfolios. She has been with the firm for 16 years.
Hayes will assume an advisory role as vice-chairman until the year-end to ensure a smooth transition of her responsibilities, after which she plans to retire from the asset management business.
Laurence Chang and Brent Lynn, currently co-managers with Hayes, will now oversee the Janus global and international growth portfolios respectively. They will be assisted by Doug Kirkpatrick and Garth Yettick.
Commenting on her departure, Hayes said: “After working closely with Laurence and Brent on every aspect of fund management for more than a decade, I know they’re ready to assume the reins.
“With a strong board of directors, a talented leader in Mark Whiston and a sharpened focus, the company is well positioned for success. That's why I feel that now is the right time for me to retire.”
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