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Money Management

Peter Bain to resign as CEO of OMAM

Peter Bain
Peter Bain

Peter Bain is resigning as president, CEO and director of OM Asset Management, effective Friday, a news release said.

James J. Ritchie, chairman of OMAM, will serve as executive chairman and interim CEO while the board conducts a search for a permanent replacement.

OMAM spokeswoman Brett Perryman could not be immediately reached for comment.

OMAM had $249.7 billion in assets under management as of March 31.