Patrick Cunningham retired as CEO of Manning & Napier, spokesman Brian Schaffer said.
Effective Monday, Mr. Cunningham retired for personal reasons unassociated with his role at Manning & Napier, Mr. Schaffer said. He will be staying on in an advisory role for three months. Mr. Cunningham was named CEO in June 2010.
William Manning, co-founder and chairman, is assuming the role of CEO on an interim basis.
No search for a permanent CEO is currently underway. A newly named operating committee consisting of Manning & Napier's senior managers will report to Mr. Manning and hold responsibility for the functions of the office of the CEO. The committee will include Jeffrey S. Coons, president; James Mikolaichik, chief financial officer; Richard B. Yates, chief legal officer and secretary; Charles H. Stamey, executive vice president and managing director of sales and distribution; and Ebrahim Busheri, director of investments.
A decision on how the company will be run in the long term will be made at a later date, Mr. Schaffer said.
Manning & Napier had $34.7 billion in assets under management as of March 31.