ICAP fund manager dies

Robert Lyon, former CEO and chief investment officer of Institutional Capital Corp., died earlier this week at the age of 57. Chicago-based Institutional Capital Corp. would not disclose further details about Mr. Lyon’s passing, but did say that he had taken a leave of absence last week. A former economist, Mr. Lyon, first joined ICAP in 1976 as an analyst. After a stint at Fred Alger Management as an analyst and executive vice president during the mid-1980s, Mr. Lyon returned to ICAP as director of research in 1988. He was later named president and chief investment officer in 1992. In addition to his most recent roles, Mr. Lyon was also co-manager of three mutual funds. Jerrold Senser, Mr. Lyon’s co-manager, will lead ICAP as CEO and CIO. Currently, the company is owned by New York Life Investment Management.