Charles Brandes steps down as chairman of investment firm

Charles Brandes, founder and chairman of Brandes Investment Partners, has retired from the firm following a divorce dispute that included mutual allegations of domestic violence involving his estranged wife. "I cannot, and will not allow my personal situation to impact the firm in any way," Mr. Brandes, 74, said in a statement Monday. "I take this step with a heavy heart, but I am satisfied and convinced my decision is in the best interest of the firm. As the founder of the firm that bears my name, my primary responsibility is to our clients, my partners and our employees and their families." Mr. Brandes filed for divorce from his wife, Tanya Johnson, in January. He went on leave on Feb. 12 from the San Diego-based firm with $31.2 billion in assets. Lawyers for both spouses mutually resolved all domestic violence claims last week. "We thank Charles for everything he has done to build this firm, and we will do everything we can to protect and honor the institution he established," said a statement Monday from Stephanie Dressler, an outside spokeswoman for Brandes Investment Partners. Mr. Brandes' retirement was effective Sunday and he no longer has "responsibilities or formal association with the firm," according to Ms. Dressler.