Tim Armour is the chairman of Capital Group. Capital Group is among the largest investment management firms in the world and the home of American Funds. The company manages over $1.3 trillion in assets. Founded in 1931 in Los Angeles, California, the company is one of the oldest asset management firms in the world. Tim Armour was elected chairman after the former Chairman Jim Rothenberg passed away at the age of 69. He is also the chairman of Capital Research and Management Company, a subsidiary of the Capital Group.
Tim Armour also serves as the company’s management committee chairman. He is part of the group’s 8-person management committee which provides the asset management group with a more institutional governance structure, unlike other organizations that are run by regular CEOs. His election solemnized the company’s management succession strategies which have been in place for quite a while. He was Jim Rothenberg’s deputy before the former chairman passed on.
Before rising to the ranks of management at Capital Group, Tim Armour participated in the company’s associate program, where his career began. He was in charge of global communications and US service firms when he worked as an equity investment expert at the company earlier in his career. Tim Armour has over 30 years of experience in asset and investment management.
Capital Groups Alliance with Samsung’s Asset Management
Samsung asset management (SAM) and the California-based Capital Group got into a strategic partnership to work together in the development of asset management products and skills for the Asian market. The terms of the agreement dictate that the two companies cooperate and develop asset development programs as well as retirement solutions in South Korea. According to Capital Group’s chairman Tim Armour, both companies will work to help Korean institutions and citizens achieve their investment goals. The chairman further expressed his gratitude to Samsung asset management and promised to bring investment solutions to the Korean people.
Janet Yang, CFA View on the Success of Capital Group
Based on the long time he has worked with the company, Janet Yang believes that Tim Armour was the perfect replacement of the company’s fallen chairman, Jim Rothenberg. She also praised the company’s administrative and accountability measures and attributed them to the company’s long-standing success.