Yolanda Waggoner-Foreman and Robert C. Hubbard were named co-CEOs at Gray & Co., replacing Laurence O. Gray, founder, CEO and president, the investment consulting firm announced Thursday.
Mr. Gray, who founded the firm in 1991, will remain president but move away from a day-to-day management role.
“Larry has no plans to retire; he is simply transitioning from a day-to-day management role. He remains fully active at the firm and will continue to lead the strategic direction of the firm,” said spokeswoman Andrea Calise.
Also, Peter Lupoff was named chief investment officer of Gray & Co. He had been CIO of Gray & Co.'s alternative investment division and will retain those duties.
Ms. Waggoner-Foreman was chief administrative officer at the firm; Mr. Hubbard was COO. Both will retain their previous duties, Ms. Calise said.
Gray & Co. has $10 billion in assets under advisement and $840 million in discretionary assets.
