David G. Tittsworth, counsel in Ropes & Gray's investment management practice in Washington and former president and CEO of the Investment Advisers Association, died Wednesday. He was 66.
Mr. Tittsworth had been in treatment for multiple myeloma, according to Karen Barr, president and CEO of the IAA.
He led the IAA for 18 years, from 1996 to 2014. When he joined the organization, then known as the Investment Counsel Association of America, it had two employees, was headquartered in New York, and served 200 member firms that collectively managed $1 trillion in assets, Ms. Barr noted in a statement. Under Mr. Tittsworth's leadership, the IAA moved to Washington, and he "developed it into a trade association widely respected among regulators, legislators and its organizational peers," Ms. Barr said. When Mr. Tittsworth announced his retirement in March 2014, the IAA had more than 500 member firms managing more than $12 trillion and now serves more than 650 member firms managing more than $25 trillion.
"Our organization — indeed, the entire investment advisory community — owes a great debt of gratitude to David," Ms. Barr said, adding that he will be remembered as a "passionate, dedicated, articulate and effective advocate for the investment advisory community and for the importance of fiduciary advice."
In the nearly two decades they worked together, Ms. Barr said Mr. Tittsworth "became not just my colleague and mentor, but a valued and cherished friend."
A veteran of Capitol Hill, Mr. Tittsworth worked in various positions before joining the IAA, including serving as counsel to the House Energy and Commerce Committee.
In 2015, Mr. Tittsworth joined Ropes & Gray where he served as one of the foremost experts on securities law and policy issues relating to the investment management industry, said Bryan Chegwidden, partner and head of the global asset management group, in a statement.
"The firm, and our clients, truly valued his wise counsel and deep understanding of the asset management landscape, enriched by his quick wit and warm demeanor," Mr. Chegwidden said. "His family and friends are in our thoughts."
Mr. Tittsworth is survived by his wife, Christine.
