Rob Arnott, founder of smart beta and asset allocation manager Research Affiliates, is relinquishing his CEO duties but remains chairman of the firm, a company spokesman said.
Katrina Sherrerd, president and chief operating officer, was named CEO and president. The COO position will not be filled, the spokesman said.
Ms. Sherrerd has run Research Affiliates' day-to-day operations for the past six years, the spokesman said, and the title change is a reflection of her duties.
Mr. Arnott will continue his client and portfolio management responsibilities as well as research. "The only thing changing is his title," the spokesman said.