Peter Bain is resigning as president, CEO and director of OM Asset Management, effective Friday, a news release said.
James J. Ritchie, chairman of OMAM, will serve as executive chairman and interim CEO while the board conducts a search for a permanent replacement.
OMAM spokeswoman Brett Perryman could not be immediately reached for comment.
OMAM had $249.7 billion in assets under management as of March 31.
