UPDATED May 10th, 2017 – Timothy Armour criticizes Warren Buffett’s investment strategy. Click here to read more.
Equity portfolio manager, CEO and management committee of the Capital Group Companies, Inc. Timothy D. Armour is a financial services professional with vast experience. He has been involved in investment services with the Capital Group for over 33 years. After graduating from Middlebury College in 1983 with his bachelor’s degree in economics, he began his career by participating in the Capital Group’s Associates Program. He went on to work with the company doing equity investment analysis. In his role as equity investment analyst he dealt with U.S. service companies and global telecommunications.
Currently based in the Capital Group’s Los Angeles office, Amour was elected company chairman in July 2015 following the death of Jim Rothenberg, Capital’s former chairman. His promotion puts him at the helm of a company that’s American Fund’s home and is considered among the leading investment management firms in the world. Prior to his election to chairman, Armour was Capital Research and Management Company and Capital Group’s management committee chairman. He will continue to work towards setting, communicating and implementing the overall business strategies of the Capital Group and oversee operations. His election is part of the leadership succession plan crafted several years ago.
Amour said the entire staff mourns their friend and colleague and describes Rothenberg as a purposeful, talented, decisive leader who was focused on clients, investors and associates long-term interests. Timothy Armour explained that the Capital Group’s true strength is the associates’ collective talents focused on the company’s mission to provide investors and clients with superior, long-term investment results. He promised the 84 year old company, its management committee and its 7,600 associates will continue its commitment to the investors and the advisors that serve them.
With the volatility of global stocks, investor concerns about China’s slowing economic growth, the country’s surprise currency devaluation and its potential impact on Japan, Europe, the United States and other trading partners, part of Amour’s role will be to help calm investors and show them a positive way forward. He points to the bull run in the U.S. that has lasted 6 years and the rising markets in many parts of the world and says the current market correction was expected and good for the health of the markets because it got rid of pockets of excess.
Armour says he expects the Fed to raise interest rates because it will be better for the economy in the long term.
Click here to learn more about Tim Armour.