US - Wilshire Associates has appointed Lawrence E Davanzo to the newly created role of president.
The company founder, Dennis A Tito, is to continue as chairman and CEO, a position he has held for 32 years.
Tito commented: “I strongly believe that creating the position of president is the best decision I can make to assure the prosperous future of the firm.”
Tito also announced that in the event of anything happening to him, Davanzo would take on the responsibility of CEO.
Davanzo said: “My most immediate priority is to further develop our asset management activities by focusing on the non-traditional investment solutions that our clients and the marketplace have told us they need.”
The new president began his career with Wilshire in 1977 and founded its consulting business in the early 1980s.
He left Wilshire in 1991 for independent business ventures but returned and assumed the role of senior managing director leading Wilshire Funds Management in January 2005.
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