Gerard O'Reilly was named co-chief investment officer of Dimensional Fund Advisors, effective April 15, according to a statement Friday from the money management firm.
Mr. O'Reilly will share the role with Eduardo Repetto, the firm's co-CEO and current chief investment officer.
Mr. O'Reilly, who is Dimensional's head of research, will continue to hold that position. He joined the money manager in 2004.
Mr. O'Reilly will report to Mr. Repetto and David Booth, chairman and co-CEO.
Dimensional elevated Mr. O'Reilly in recognition of “the great work he has done for our clients” and the firm, Mr. Repetto said in an e-mail.
“Gerard is widely recognized by fellow employees, clients and consultants as a leader within Dimensional,” Mr. Repetto said. Mr. O'Reilly “has been contributing at a CIO level.” Mr. O'Reilly is co-chair of the firm's investment policy committee and a member of the investment committee. “Given his increase in responsibilities, we felt the time was right to reflect that in his job title,” Mr. Repetto said.
The move is the first time Dimensional has added a co-CIO. ”We are big believers in the benefits of a team-based structure … given the success we've had with shared leadership position, i.e., co-CEOs, co-heads of portfolio management,” Mr. Repetto said.
Mr. O'Reilly, who is based in Santa Monica, Calif., will be transferring to Austin, Texas, to join Mr. Repetto.
Dimensional had $356 billion in assets under management from clients worldwide as of March 31.