Edmond D. Villani will become CEO of Scudder, Stevens & Clark July 1. He'll continue as the firm's president but no longer will be CIO. Instead, the global equity and global bond groups will perform the CIO functions.
In addition, Mark S. Casady, managing director and head of Scudder's defined contribution services business, has assumed the additional role of director of U.S. mutual funds, a position formerly held by Daniel Pierce, Scudder's chairman of the board and chairman of the executive committee. Mr. Casady will be responsible for day-to-day operations and the business strategy of Scudder's U.S. mutual funds effort.
Scudder's last CEO was George S. Johnston, who held the title until his death in 1991. At that time, leadership duties were assumed by Messrs. Pierce and Villani.
