Virtus Investment Partners Elects Timothy A. Holt as Chairman of its Board of Directors
Virtus Investment Partners (NASDAQ: VRTS) has appointed Timothy A. Holt as the new chairman of the Board of Directors, succeeding Mark C. Treanor, who will retire this spring. Holt, who has been a board member since 2009, previously chaired the Governance Committee and served on the Compensation Committee. Treanor praised Holt's extensive industry experience and leadership abilities. His tenure as chairman spanned 12 years, during which he significantly contributed to the company's governance and shareholder value. This leadership transition is part of a planned succession strategy.
- Timothy A. Holt's appointment is expected to bring fresh leadership perspectives.
- Holt's extensive experience in investment management enhances the board's capabilities.
- Mark C. Treanor's departure may raise concerns about continuity and experience on the board.
HARTFORD, Conn., March 1, 2021 /PRNewswire/ -- Virtus Investment Partners (NASDAQ: VRTS), which operates a multi-boutique asset management business, today announced that Timothy A. Holt has been elected chairman of the company's Board of Directors as part of the board's succession plan. He replaces Mark C. Treanor, who, pursuant to board policy, is scheduled to retire from the board this spring.
Treanor had been chairman of the board since Virtus became an independent public company in 2009. Holt also has served on the board since 2009 and most recently was chairman of the board's Governance Committee and a member of the Compensation Committee. He continues to serve on both committees.
"I want to thank Mark for his invaluable guidance and tireless work on behalf of the company and the board for the past 12 years. Under his leadership, we established a strong governance and operational foundation for the board that has been an important element in creating value for our shareholders. He has been an exceptional partner to me and the management team," said George R. Aylward, president and chief executive officer.
"Tim brings a comprehensive understanding of the company from his long tenure on the board and his leadership role on several committees. His experience in investment management and as a senior corporate leader has helped guide the growth of our business and will continue to serve our shareholders very well," Treanor said. "I have been proud to serve as chairman for these past 12 years and congratulate Tim on his transition to board chairman."
Holt held various positions with Aetna, Inc. from 1977 until his retirement in 2008 as senior vice president and chief investment officer, a position he held for more than a decade. Previously he was chief enterprise risk officer, senior vice president and chief financial officer of Aetna Retirement Services, and vice president, Finance, and treasurer. He began his career with the company in investment management.
Prior to joining Virtus as non-executive chairman of the board, Treanor served as senior executive vice president, general counsel and secretary of Wachovia Corporation from 2001 to 2008, with responsibilities for legal, regulatory, corporate governance and government relations activities. He previously held similar responsibilities as executive vice president, general counsel and secretary of First Union Corporation, Wachovia's predecessor, which he joined in 1998 after serving as president and senior partner of the law firm Treanor, Pope & Hughes, which he founded.
About Virtus Investment Partners, Inc.
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Its affiliated managers include Ceredex Value Advisors, Duff & Phelps Investment Management, Kayne Anderson Rudnick Investment Management, Newfleet Asset Management, NFJ Investment Group, Seix Investment Advisors, Silvant Capital Management, and Sustainable Growth Advisers. Additional information is available at virtus.com.
Forward-Looking Information
This press release contains statements that are, or may be considered to be, forward-looking statements. All statements that are not historical facts, including statements about our beliefs or expectations, are "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995, as amended. These statements may be identified by such forward-looking terminology as "expect," "estimate," "intent," "plan," "intend," "believe," "anticipate," "may," "will," "should," "could," "continue," "project," "opportunity," "predict," "would," "potential," "future," "forecast," "guarantee," "assume," "likely," "target" or similar statements or variations of such terms. Our forward-looking statements are based on a series of expectations, assumptions and projections about the company, are not guarantees of future results or performance, and involve substantial risks and uncertainty as described in our most recent Annual Report on Form 10-K and our filings with the Securities and Exchange Commission, which are available in the Investor Relations section of our website, www.virtus.com. All forward-looking statements are as of the date of this release only. The company can give no assurance that such expectations or forward-looking statements will prove to be correct. Actual results may differ materially. You are urged to carefully consider all such factors.
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SOURCE Virtus Investment Partners, Inc.
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