Dick Mayo, founding partner and the head of U.S. active strategy at Grantham, Mayo, Van Otterloo, will retire at year-end and launch a hedge-fund company. As yet unnamed, it will manage assets for a small group of current GMO clients. He will retain his equity partnership in GMO. Tucker Hewes, GMO media contact, did not return calls by press time regarding a replacement for Mr. Mayo.
"While everyone here will miss Dicks day-to-day contributions and leadership, we are firmly committed to the U.S. active strategy and are very fortunate to have Ed Choi and the great team of investment professionals we have in the U.S. equity division, Scott Eston, COO and a partner at GMO, said in a statement.