NEW YORK — With his influence in his company eroding, Ronald J. Ryan earlier this month offered to buy the 70% or so of Ryan Labs Inc. he did not own.
When the other shareholders balked, he abruptly resigned, leaving the firm he founded in 1988 scrambling to assure clients that his departure will have little, if any, effect on the firm's ability to manage money.
"We've been calling every client," said Sean F. McShea, chief operating officer and now president, adding that he plans to visit the firm's largest clients. "The key thing is to make sure the clients stay."
Mr. Ryan said he left the firm because his role was "diluted" and he was not able to hire "enough talent and promote people within properly."
He has started Ryan ALM Inc., in New York and Florida, the ALM standing for asset-liability management. "I will be chief financial architect, and my role is to concentrate on clients and their portfolios and come up with strategies that help them with the liability crisis," he said in an interview. "I can go back to doing what I think I do best."