Todd Tibbetts, co-CIO of MIO Partners, will step back from day-to-day responsibilities at the end of the year after 25 years at the firm.
Mr. Tibbetts will serve as a consultant to the firm after he leaves full-time work.
Kevin Clancy and David Azad, co-CIOs of public and private market investment, respectively, will assume Mr. Tibbetts' responsibilities, said Basil Williams, the firm's CEO, in an email.
"Todd's leadership over the past decade of expansion of MIO's capabilities positions the organization to succeed far into the future," Mr. Williams said.
MIO Partners is the investment management subsidiary of McKinsey & Co. and managed a total of $14 billion as of Aug. 31, with $5 billion from McKinsey's pension funds and the balance in after-tax investments for current and former McKinsey employees.