After the sudden and unexpected death of James Rothenberg, the Los Angeles based firm, Capital Group Companies elected his successor. In a press release dated, July 28, 2015, the Group’s management committee announced Timothy Armour as their choice for Chairman. Armour is a graduate of Middlebury College in Vermont, where he earned a Bachelor degree in Economics. After completing college in 1983, he entered The Associates Program (TAP). Recent college graduates are eligible for program entry, if successful, they’re hired.
He was hired by Capital Group after his participation in TAP. Timothy Armour has been with the company for 33 years and has never worked for another organization. His tenure with Capital Group began in the global telecommunications department as an Equity Investment Analyst and eventually moved into other higher roles within the company. Timothy Armour’s active positions include Equity Portfolio Manager, as well as Chairman of the Capital Group Companies Management Committee, Principal Executive Officer and Chairman of Capital Research and Management and his most recent naming as Chairman of Capital Group Companies.
Although tragedy preceded the announcement of Timothy Armour’s appointment as Executive Chairman of Capital Group. He was actually being groomed early on by Rothenberg himself, to become the eventual successor, several years prior. In a report by independent investment firm analyst, Janet Yang, she acknowledged Timothy Armour’s ongoing contributions towards the continued successful management of $1.4 trillion in assets. Yang also mentioned that those in the financial investment industry often spend their entire career with one company.
In a year end assessment of Capital Group, Janet Yang provided her perspective on the election of Timothy Armour. She noted that he was a great choice because “his eyes are always on the future.” Not a direct quote, but comments from her written report. She entailed that Capital Group has a great team with the ability to fulfill the demands of the business market, by anticipating changes and then accurately preparing to meet those needs in advance.
Timothy Armour is accredited for being somewhat of a financial services visionary. He believes in his firm’s ability to pick great stocks. Armour shared his personal philosophy on how he approaches each client. His philosophy is, “we will get you better returns over time.” Given Capital Group’s impressive track record, it is appropriate that Armour has a personal outlook on what could be more or less considered a silent business mantra.
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