Board Will Conduct Search for Successor
Washington, DC; January 28, 2020—Investment Company Institute (ICI) President and CEO Paul Schott Stevens will retire at the end of 2020 after leading the global regulated fund industry trade group for more than 16 years. ICI’s Board of Governors will oversee a search in the coming year to identify the Institute’s next chief executive.
“I am immensely proud of the Institute’s many achievements during my time as its president and CEO,” said Stevens. “Over these years, we have transformed ICI into a truly global organization with world-renowned research and analytical capabilities that support our advocacy on behalf of funds and their shareholders. It has been a privilege for me to lead our talented and dedicated staff, and to work alongside so many outstanding leaders in our industry. Retiring from such rewarding work will be bittersweet, but I have every confidence that I will leave ICI in a very strong position for the next president.”
“Paul’s steadfast leadership and keen intellect have been key factors in the successful growth of ICI and its work for nearly two decades,” said George C. W. Gatch, Chairman of ICI’s Board of Governors and CEO of J.P. Morgan Asset Management’s global funds and global institutional businesses. “His ability to navigate complex regulatory and policy matters while maintaining the industry’s focus on serving fund shareholders has strengthened ICI’s ability to advocate across the globe on issues of importance to funds and investors alike. I look forward to working with the Board and Paul to identify the next leader of the Institute, who will continue building on the strong foundation ICI has laid under Paul’s leadership.”
Key Accomplishments During Stevens’s Tenure as President and CEO
Stevens, 67, has served as president and CEO of the Investment Company Institute since June 2004. He previously served as ICI’s general counsel from 1993 to 1997. Stevens has steered ICI during some of the most challenging years in its history, through the financial crisis and beyond. During his presidency, Stevens led ICI’s efforts on a series of crucial issues, including:
- The globalization of fund investing
- Response to the global financial crisis
- Establishment of ICI as a major center for research and data
- Policy efforts to strengthen retirement savings
- Fund regulatory changes to enhance transparency, reduce costs, and protect investors
ICI to Conduct Search for Next President and CEO Throughout 2020
ICI has engaged Russell Reynolds Associates to work with a select committee of the Institute’s Board of Governors on a search to identify Stevens’s successor in the coming year.