Paul Schott Stevens, president and CEO of the Investment Company Institute, plans to retire at the end of 2020, the mutual fund trade group announced Tuesday.
Stevens, 67, who’s been ICI’s head since June 2004, said in a Tuesday statement that “retiring from such rewarding work will be bittersweet, but I have every confidence that I will leave ICI in a very strong position for the next president.”
He previously served as ICI’s general counsel from 1993 to 1997.
ICI’s Board of Governors said that ICI has engaged Russell Reynolds Associates to work with a select committee of the Institute’s Board of Governors on a search to identify Stevens’ successor in the coming year.
Stevens added in the statement that over his years at ICI, “we have transformed ICI into a truly global organization with world-renowned research and analytical capabilities that support our advocacy on behalf of funds and their shareholders.”