Janus Capital Group says Richard M. Weil has been appointed chief executive officer and a member of the board of directors, effective February 1.
Janus Chairman Steve Scheid explains that after an extensive search, the board believes Weil is "the right person to lead Janus forward," noting Weil's strong leadership experience. Prior to joining Janus,
Weil spent 13 years at Pimco, where he most recently served as the global head of Pimco Advisory, a member of Pimco's executive committee and a member of the board of trustees of Pimco Funds.
Before joining Pimco, Weil, 46, was with Bankers Trust Global Asset Management and Simpson Thacher & Bartlett LLP in New York.
He succeeds Janus Capital Group director Tim Armour, who served as interim CEO since July 2009. As of September 2009, Denver-based Janus had $152 billion in assets under management.