Research Affiliates has named Katy Sherrerd as CEO, replacing firm founder Rob Arnott, who will remain chairman of the smart beta and asset allocation strategist, a spokesperson confirmed Wednesday.
Sherrerd served as the firm’s chief operating officer before her promotion. The news was first reported by FundFire.
She will lead Research Affiliates’ day-to-day operations and business development, with responsibility for investment management and research, product management, and distribution, among other functions, according to a company statement.
Arnott will continue to carry out his current research, client, and portfolio management responsibilities.
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“My role hasn’t changed,” said Arnott in the statement. “Katy has been running day-to-day operations at Research Affiliates for many years and this promotion simply formalizes her position. I will continue to dedicate my time to areas that I am most passionate about.”
Research Affiliates develops factor-based investing strategies that are deployed by partner firms in a variety of formats including ETFs and mutual funds. Some $197 billion of assets were managed using strategies developed by the firm as of June 30, according to company figures.
Sherrerd joined Research Affiliates in 2006. Prior to that, she served as vice chair of the Virginia Retirement System’s investment advisory committee and has also been a visiting professor at the University of Virginia’s Darden School and a lecturer at its McIntire School of Commerce.