Mark E. Donovan, co-CEO of Boston Partners Global Investors, will step down from that role at the end of this year to focus solely on his portfolio management responsibilities at the asset manager, a spokeswoman confirmed Tuesday.
Joseph "Jay" F. Feeney Jr., who has served as co-CEO alongside Mr. Donovan since 2008, will become sole chief executive of the company effective Dec. 31, and retain his title as chief investment officer, the spokeswoman confirmed in an email.
Mr. Donovan is lead portfolio manager for Boston Partners' large-cap value equity strategies and is one of the founding partners of the firm, according to Securities and Exchange Commission filings.
Mr. Feeney is responsible for the firm's strategic, financial and operating decisions, and all aspects of investment management, including the firm's fundamental and quantitative research groups, the firm's website states.
Boston Partners had $86.6 billion in assets under management as of Sept. 30.