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Back in the game: Gary Black, former Janus CEO, launches investment shop

By Douglas Appell

October 23, 2009 2:14 pm ET

Gary Black, former CEO of Janus Capital Group, launched a new money management firm, Black Capital Management, in New York.

In a telephone interview, Mr. Black said his firm, which will be SEC registered, will offer traditional long-only as well as absolute-return strategies to both retail and institutional investors. He declined to provide further details.

Janus announced Mr. Black's resignation as CEO on July 14, installing Janus director Timothy K. Armour in his place on an interim basis.

Mr. Armour said in a conference call on Janus' third-quarter earnings that the company is “in the seventh inning” in finding a new CEO. Mr. Armour said Janus expects to hire someone by early 2010.

Douglas Appell is a reporter with Pensions and Investments, an InvestmentNews sister publication

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