NEW YORK - Dean "Kip" Witter III likely will assume the helm of William D. Witter Inc., New York, for at least some time following his uncle's unexpected death.
Mr. Witter told Pensions & Investments that he is executor of William D. Witter's will, which now is being processed by New York State probate court.
The elder Mr. Witter, the firm's chief executive officer and president, died May 11. He was 73. Mr. Witter was a well-known small-cap portfolio manager who regularly appeared on television to comment about investment management and the markets. More than 600 mourners attended a May 20 memorial service in New York, his nephew said. "We gave him quite a sendoff."
The elder Mr. Witter started the investment management firm in 1977. It managed slightly more than $1.3 billion as of Dec. 31, $335 million of which was from U.S. institutional tax-exempt clients. The firm specializes in active U.S. small-cap growth equities, but also offers balanced and fixed-income strategies for more than 200 institutional and high-net-worth clients.