New Expert Leadership at Capital Group
In July of 2015, Capital Group’s Board of Directors, elected Tim Armour, Chairman of the firm. Capital Group owns well-known American Funds. He had been the Chairman of the company’s management committee. Even though his position has changed, he will still work to establish the company’s business strategies. The change in position was in the works for several years, but was accelerated because of the recent death of former Chairman, Jim Rothenberg.
Tim claims that the firm’s success is not because of one individual but the collective efforts of all associates, who are dedicated to delivering above average investment results to clients. The organization has over 7600 associates and an 84-year legacy of superior service.
Armour has 32 years of experience in the investing business, all of it with Capital Group. He started with the firm as an equity investment analyst, covering the global telecom sector and service companies.
Capital Group headquarters are located in Los Angeles, CA. The company started in 1931. It is one of the oldest and largest firms of its kind. They are known for their long-term investment focus. With offices in over 20 cities including London, Tokyo and Sydney they serve a vast array of customers.
Recently, Capital group formed a partnership with Samsung Asset Management to develop asset management products for the Korean community. They will provide investment administration services, product supervision, retirement services and distribution channels for products.
Armour’s philosophy is “we will get you better returns over time.” His focus has always been to take a longer-term approach to reaching investment goals and you will have a more successful outcome. In 2015, Tim Armour noted that the U.S. economy was not progressing very fast, yet felt that the Fed was about to begin a series of interest rate increases. He believes that the near-zero interest rates will become detrimental to investors if it is allowed to continue for much longer.
Tim Armour’s amazing ability to recognize trends and changes in the marketplace, have served Capital Group well in the past. Now that he is head of the company, most expect that this will continue at an even stronger pace.