Brent Gledhill was appointed the sixth CEO of William Blair by his fellow partners during a meeting Wednesday .
Mr. Gledhill immediately assumed his new role and retains his prior position as president, said Padraic Swanton, a company spokesman, in an email.
Mr. Gledhill joined William Blair in 1997 and has primarily worked on the investment banking side of the firm.
He replaces John Ettelson, who was appointed the firm's first chairman after serving as the firm's CEO since 2004, said Mr. Swanton.
Mr. Gledhill's promotion to CEO is "the capstone to a seamless and strategic transition that has the entire firm optimistic about sustaining our growth trajectory and maintaining the firm's unique culture throughout our next phase of growth," Mr. Ettelson, in a news release Thursday.
Mr. Gledhill said he is focused on "investing actively to grow the impact we make for clients by expanding our relationships and intellectual capital, innovating to enhance our processes and hiring experts around the world who fit our collaborative culture."
William Blair Investment Management had $77 billion in assets under management as of Sept. 30.