Jess Yawitz, co-founder and chairman of NISA Investment Advisors, will retire on Dec. 31.
Mr. Yawitz, who co-founded NISA in 1994 with William J. Marshall, had ceded his CEO title to David G. Eichhorn, head of investment strategies, on Jan. 1 as part of a multiyear transition of responsibilities to the current senior management team.
NISA does not plan to appoint a new chairman of the firm at this time, a spokesman said in an email.
Mr. Marshall, formerly the firm's president, retired in 2018.
"It's been a privilege to be part of a firm for more than 27 years with incredibly talented people at all levels of the organizations," Mr. Yawitz said in a news release. "I am confident that under the stewardship of David and the Senior Leadership team at NISA, that the firm's best days lie ahead."
NISA Investment Advisors provides liability-driven investing and derisking strategies for pension plans and had $307 billion in assets under management as of June 30. The AUM figure does not include $172 billion of notional value of derivatives managed by NISA.