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MONEY MANAGEMENT

GMO taps new CEO, brings on head of investments team

Scott Hayward was named CEO of Grantham, Mayo, Van Otterloo & Co., effective Feb. 13.

Mr. Hayward will replace Margaret “Peg” McGetrick, interim CEO. She replaced Brad Hilsabeck on July 1. She will remain a board director at the manager, said a news release by GMO on Monday.

Mr. Hayward “is a strong cultural fit for us and comes with a long track record of delivering investment excellence and innovation,” said Ms. McGetrick in the release.

Mr. Hayward was CEO of Quantitative Management Associates. The firm announced in October that Andrew Dyson will become CEO on April 1.

Further details could not be learned by press time.

GMO also appointed Andy Martin as head of investment teams. The position is new.

Mr. Martin was managing director in the non-profit practice and global head of hedge fund research at Cambridge Associates, said the release.

A Cambridge spokesman said in an email: "Andy was a great investor at the firm, managing portfolios primarily for endowments and foundations. His expertise and guidance contributed greatly to his clients’ ability to achieve their investment objectives. In addition to his client work, he oversaw a number of strategic initiatives within our hedge fund research team in 2016 that reaffirmed and strengthened our manager due diligence processes. We thank Andy for his contributions over the last 10 years and wish him all the best at GMO. The research leadership team and ratings committee that are ultimately responsible for the firm’s hedge fund recommendations remain in place, and no changes are taking place to the structure of the team or the committee."

GMO had about $88 billion in assets under management as of Sept. 30.