News Release

William F. “Ted” Truscott Re-elected ICI Chairman

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William F. “Ted” Truscott Re-elected ICI Chairman 

New Governors Elected to Board of Investment Company Institute

Washington, DC, October 4, 2017—The Board of Governors of the Investment Company Institute (ICI) has elected ICI Chairman William F. “Ted” Truscott, CEO of Columbia Threadneedle Investments, to serve an additional one-year term. In addition, the ICI membership has elected a slate of new governors.

F. William McNabb III, as immediate past ICI Chairman, will continue serving as Vice Chairman of the Board of Governors for an additional one-year term. McNabb is Chairman and CEO of The Vanguard Group.

Truscott was first elected to ICI’s Board of Governors in 2007 and has served on the Institute’s Executive Committee since 2012. From May 2015 until October 2016, he chaired the Chairman’s Council, which oversees ICI’s political program. He has led the US asset management business of Ameriprise Financial since joining in 2001 and has served as CEO of Columbia Threadneedle, the firm’s global asset management group, since 2012. Before joining the firm, Truscott was chief investment officer with Zurich Scudder Investments, Americas, and managing director at Zurich Scudder Investments. Truscott serves on multiple boards within Columbia Threadneedle and Ameriprise and serves on the Board of Trustees for Middlebury College.

“It is a tremendous privilege to serve as ICI Chairman and I am honored to be re-elected by the Institute’s Board of Governors,” Truscott said. “In the coming year, as always, ICI will work to promote appropriately tailored regulation of our industry that permits innovation and allows funds to meet their responsibilities to shareholders. I look forward to engaging for another year with ICI’s membership and outstanding staff as we pursue the industry’s policy goals.”

ICI President and CEO Paul Schott Stevens said, “As anticipated, Ted Truscott has brought tremendous energy and commitment to his role as ICI Chairman during the last year. We have benefitted enormously from his leadership, and I look forward to continuing to work with him and our excellent Board of Governors.”

Truscott will continue to preside over the Board of Governors—the governing body of the Institute—and the Executive Committee of the board. The board is responsible for setting policy and overseeing activities of the Institute, whose members include mutual funds, closed-end funds, exchange-traded funds, and unit investment trusts in the United States, and similar funds offered to investors in jurisdictions worldwide.

The Institute’s membership elected a slate of governors that included the following new members to the board:

  • Kyle Andersen, Edward Jones
  • Bruce Duncan, Independent Director, T. Rowe Price Funds
  • Brooks Englehardt, USAA Investment Management Company
  • Marco Hanig, AQR Capital Management, LLC
  • Dawn Vroegop, Independent Director, Brighthouse Funds and Driehaus Funds

Earlier this year, the Board of Governors elected the following new members to the board:

  • Douglas Eu, Allianz Global Investors
  • Yie-Hsin Hung, New York Life Investment Management LLC
  • Marijn Smit, Transamerica Asset Management
  • Shundrawn Thomas, Northern Trust Asset Management

The full membership of ICI’s Board of Governors is available on the Institute’s website.