Robert D. Arnott will resign as chairman of First Quadrant, effective...

Robert D. Arnott will resign as chairman of First Quadrant, effective April 30, according to today's P&I People. Mr. Arnott will focus on his 2-year-old research and subadvisory firm, Research Affiliates, and will remain as editor of the Financial Analysts Journal, according to a letter First Quadrant sent to its clients. First Quadrant will not fill the chairman's position, and no other organizational changes will occur, explained Max Darnell, the firm's CIO.