Frank Reichel will become CEO of Thompson, Siegel & Walmsley on Sept. 30, replacing Horace Whitworth.
Mr. Whitworth will continue as the firm's chief financial officer until a replacement is named after a national search. He then will serve in an advisory role until he retires in several years, said Thomas Vogel, a spokesman, in an email.
Mr. Reichel is the firm's president and will be replaced by John Reifsnider, managing director, who will retain his existing responsibilities for institutional marketing and client service.
"With this leadership transition, we recognize the contributions and capabilities of key members of our management team," Mr. Whitworth said in a news release.
TSW managed $24 billion in active U.S. and international equity for institutional and retail clients as of March 31.