The firm has appointed a new sole CEO, who will also serve as a member of the board of directors.

Global asset manager Janus Henderson has appointed Dick Weil as its sole chief executive.

Weil also serves as a member of the board of directors. He is responsible for the strategic direction and overall day-to-day management of the firm, and leads the firm’s executive committee. The firm has scrapped the co-CEO roles, and Andrew Formica has resigned as co-CEO and board member with immediate effect.

However, Formica has agreed to continue on as an advisor to assist with final integration efforts through the end of the year.

Prior to this, Weil was CEO of Janus, a position he held since joining the firm in 2010, before the merger of Janus and Henderson. Prior to this, Weil spent 15 years with PIMCO, where he most recently served as the global head of PIMCO Advisory, a member of PIMCO’s executive committee, and a member of the board of trustees of the PIMCO Funds. 

“Now that our integration plans are significantly progressed, our board has determined that the co-CEO structure has achieved its goals, and now is the appropriate time for Janus Henderson to be led once again by a sole CEO,” said Richard Gillingwater, chairman of the Janus Henderson board. “Dick brings a breadth of skills and experience from prior roles in his career where he successfully led organizations through challenge and change.”