Recently, Timothy Armour has taken on the Chairman position of Capital Group after the demise of its former Chairman James Rothenberg.
After joining the Capital Group in the year 1970, Rothenberg had helped the firm expand its business worldwide and acquire many clients. Armour has more than thirty years of experience in investments, and this is one of the reasons he was suitable for the chairman position. Armour is expected to work hand in hand with other senior members of the firm such as Rob Lovelace who is the president of Capital Research and Management Company among others to carry out the company’s businesses.
Another thing that made Armour outstanding for the Chairman position is the fact that he had worked with the firm all his life. He joined Capital Group in the year 1983 as an associate and worked with other employees to make the firm better than they found it. Timothy graduated from Middlebury College with a degree in Economics. He gained the thirty-year experience while working at Capital Group thus understanding and analyzing US service companies and global telecoms. In the report he gave after being elected as the firm’s Chairman, Armour commented how the company was filled with grief after the loss of one of the company’s colleague.
From working with the firm for so long, Armour was in a position of understanding the firm’s strengths and weaknesses. According to him, he outlined that the company’s success and strength majorly relied on the collectiveness of its employees to come together and deliver long-term investment advice. This is one of the major factors that made the company become famous and formulate a name for itself over the years after being launched in 1931. The Firm is known as one of the oldest but still, the largest investment company with a long-term focus. Ever since it was formed, the company has been able to have offices in more than twenty cities including Sydney.
Armour commented that the company is planning to collaborate with Samsung Asset Management to assist each other on asset management and global investments for the Korean market. The Samsung Asset Management and Capital Group will majorly focus on product supervision, investment administration, distribution channels and retirement organization. Mr. Armour said that the reason as to why they are helping the Korean market is the fact that Korea is being faced with statistical challenges when it comes to providing financial requirements to the aging population. Capital Group will help in co-designing investments outcomes for the Korean market.
Under the leadership of Timothy Armour, the Capital Group is in safe hands and the firm is bound to go far.