Money Management

Symphony Asset Management CEO/CIO to depart

Gunther Stein, CEO and chief investment officer of Symphony Asset Management, is leaving the firm, according to a spokeswoman at Symphony parent Nuveen.

Mr. Stein will remain chairman of the boutique fundamental equity and fixed-income manager until Dec. 31. He is leaving for "business and family reasons," the spokeswoman said, but he has not said what his future professional plans will be.

Mr. Stein will not be directly replaced but his duties will be assumed by four co-heads of investments: senior portfolio managers Scott Caraher, head of loans; Jenny Rhee, head of high yield; Himani Trivedi, head of structured credit; and James Kim, head of research.

The four will report to Jose Minaya, Nuveen CIO and head of global investments.

Symphony manages $20 billion in assets.