Thursday, 28 July 2016
Last updated 4 hours ago
Jul 18 2013 | 10:25am ET
Laurence O. Gray, president and chief executive officer of Atlanta-based investment advisor Gray & Company, will cede that second title to two co-CEOs.
Yolanda Waggoner-Foreman, chief administrative officer, who has been with the firm since 2010, and Robert C. Hubbard, chief operating officer, who has been with the firm since 2006, will assume the roles of co-CEOs with joint responsibility for the day-to-day management of the firm and execution of the firm’s strategy.
Gray will continue in his position as president while transitioning out of a day-to-day management role, focusing primarily on guiding the executive committee in the firm’s next phase of growth.
As part of the new structure, Gray & Company is combining all investment capabilities under the leadership of Peter Lupoff, who joined the firm in 2012 when it acquired his firm, Tiburon Capital Management. Lupoff, who was previously CIO of Gray’s alternative investment division, will become CIO for the entire firm.
The executive committee—consisting of Gray, Foreman, Hubbard and Lupoff—will remain in place, continuing to provide the overall strategic direction of the firm.
Said Gray, in a statement: “Over the past two decades, Gray & Company has evolved into a global investment solutions firm with more than $10 billion in assets under advisement and $840 million in discretionary assets. We have become an enduring, world-class institution with a deep and talented team of financial services professionals led by Yolanda, Bob and Peter. Having been at the helm since the firm’s founding, it is now time for these capable leaders to take an active role in the decision making and oversee the day-to-day management of the firm.”