Timothy Armour has enjoyed a successful career at Capital Group. Presently, he heads the group as chairman and CEO tasked with increasing its capital under management. He has the experience required for the job because he has been with the company for three decades. Additionally, Tim is also the chairman of Capital Research and Management Company, Inc., and Capital Group Companies Management Committee in Los Angeles.
Tim is an accomplished equity portfolio manager. In fact, earlier on in his career, after graduating from Middlebury College with an economics degree, he worked as one of Capital Group’s equity investment analysts. He was tasked with covering global telecommunications as well as service companies in the United States.
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Why Tim Armour was Elected Chairman
Tim Armour worked under the former chairman, James Rothenberg, until his passing in 2015. Rothenberg had handpicked Tim as his deputy and was grooming him to be his successor. At the time he headed Capital Research and Management Company as well as the group’s management committee.
After Rothenberg’s death, Capital Group’s Board of Directors called an emergency meeting to appoint a new chairman to lead the company. Jim was chosen over other candidates like Rob Lovelace because he had more experience and possessed the leadership qualities required to run one of the biggest investment management firms in the world.
Rob Lovelace, the grandson of Capital Groups founder and first chairman, is the present president of Capital Research and Management Company. He will continue to work with Tim and other members of the company’s management team to implement the group’s business strategies and oversee operations.
Active Fund Management
Tim Armour has for a long time been a strong proponent of active fund management at Capital Group. He believes that active managers get things done and achieve more success than passive managers who rely on market indexes to make investment advice. Active managers invest more time and resources into market research to find the next big thing and invest their money to achieve a higher return on investment. In turn, this grows their customers’ investments.
Capital Group manages assets worth a whopping 1.4 trillion dollars. With clients like American Funds, Timothy has his work cut out for him. However, he proved to be the perfect man for the job when, in 2015, the group’s sales operations team brought in a record amount of new capital compared to other companies in the industry.