ICI Elects New Governors
The Board of Governors of the Investment Company Institute (ICI) has elected ICI Chairman George C. W. Gatch, chief executive officer of J.P. Morgan Asset Management, to serve an additional one-year term. In addition, ICI’s membership elected new governors to serve on ICI’s board.
William F. Truscott, as immediate past ICI chairman, will continue serving as vice chairman of the Board of Governors for an additional one-year term. Truscott is CEO of Columbia Threadneedle Investments.
Gatch was first elected to ICI’s Board of Governors in 2001 and has served on the board’s Executive Committee since 2006. Gatch, who joined J.P. Morgan in 1986, is also a member of the operating committee of JPMorgan Chase & Co.’s Asset & Wealth Management line of business. Previously, as CEO of Global Funds Management, he led J.P. Morgan’s mutual fund complexes in Asia-Pacific, the Americas, and Europe. For a decade, Gatch led Global Funds’ US mutual fund platform, which he launched in 2005. Earlier in his career, Gatch served as president and CEO of Japan’s DKB Morgan, and established J.P. Morgan Asset Management’s sub-advisory and institutional mutual funds businesses. He holds a bachelor’s degree in political science and economics from Washington University in St. Louis.
“I am honored that ICI’s Board of Governors has reelected me to serve an additional term as the Institute’s chairman,” Gatch said. “It is a privilege to serve in this role and I look forward to continuing our work with ICI’s membership and talented staff to further advocate in the best interest of regulated funds around the world and the millions of shareholders they serve.”
ICI President and CEO Paul Schott Stevens said, “George Gatch is a respected leader in the fund industry and has proven himself a tremendous leader of our board. I am delighted to continue working with him and with all our Board of Governors over the next year.”
As chairman, Gatch presides over the Board of Governors, the governing body of the Institute, and the Executive Committee of the board. The board is responsible for setting policy and overseeing activities of the Institute, whose members include mutual funds, closed-end funds, exchange-traded funds, and unit investment trusts in the United States, and similar funds offered to investors in jurisdictions worldwide.
New governors joining the Institute’s board in October include:
- Kathleen T. Barr, Independent Director, William Blair Funds and Professionally Managed Portfolios
- Jane K. Carten, Saturna Capital
- Robert G. Dorsey, Ultimus Fund Solutions
- Christine L. Hurtsellers, Voya Financial
- Garry L. Moody, Independent Director, AB Mutual Funds
- George H. Walker, Neuberger Berman
Earlier this year, the Board of Governors elected the following new members to the board:
- Mortimer J. Buckley,Vanguard
- Jonathan de St. Paer, Charles Schwab Investment Management
- Patrick G. Halter, Principal Global Investors
- James L. Johnson Jr., Fidelity Investments
- David Oestreicher, T. Rowe Price
- Douglas B. Sieg, Lord Abbett & Co., LLC
The full membership of ICI’s Board of Governors is available on the Institute’s website
Evidence shows that more diverse boardrooms make better decisions.
A more effective proxy process is on tap for the new year.