Money Management

American Century promotes 2 to CIO positions

Rich Weiss and Vinod Chandrashekaran were named to chief investment officer roles at American Century Investments, confirmed spokesman Chris Doyle in an email.

Mr. Weiss will be responsible for the firm's multiassets strategies team, which includes target-date and target-risk funds and strategic allocation portfolios. Mr. Chandrashekaran will be responsible for the firm's quantitatively managed disciplined equity strategies.

The two replace Scott Wittman, who had served as CIO of both investment areas. "After eight years with the firm, Wittman has decided to leave American Century to pursue other interest," said a statement posted on American Century's website. "While Wittman also served as a senior portfolio manager on multiple strategies within both disciplines, there are no plans to backfill his role."

Mr. Weiss had has served as a senior vice president and senior portfolio manager on the multiasset strategies team at American Century while Mr. Chandrashekaran had served as senior vice president, portfolio manager and director of quantitative research and portfolio management.

Multiasset strategies had $37.9 billion assets under management as of May 31, while disciplined equity assets strategies had assets under management of $15.1 billion as of March 31.

Messrs. Weiss and Chandrashekaran report to Victor Zhang and David MacEwen, co-chief investment officers of the money manager.