Janus Henderson CEO to exit as Peltz's Trian seeks changes

Janus Henderson CEO to exit as Peltz's Trian seeks changes
Chief Executive Dick Weil, who was instrumental in the 2017 merger of Janus Capital and Henderson Group, will retire at the end of March.
NOV 18, 2021
By  Bloomberg

Janus Henderson Group said Chief Executive Dick Weil will retire at the end of March as the asset manager comes under increased pressure from Nelson Peltz’s Trian Fund Management to improve performance.

Weil, 58, who was instrumental in the 2017 merger of Janus Capital Group Inc. and Henderson Group to create the global money manager, also will step down as a member of the company’s board in March and remain an adviser through June, the London-based company said Thursday. The board started an internal and external search for a successor.

“We don’t know who an internal candidate might be at this time, and with a CEO search underway, it could be some time before the company will embark on substantive new initiatives,” Keefe Bruyette & Woods analysts Robert Lee and Margo Rybeck wrote in a note to clients after the announcement.

New York-based Trian, which is Janus’s largest shareholder, with a 15.4% stake, said in a regulatory filing this week that it’s engaged in discussions with the company’s board and management. Trian said it’s proposed several strategic and operational changes at Janus, including adding new independent directors, in an effort to improve the firm’s performance.

Janus shares rose 2.4% at 10:59 a.m. in New York. They’ve gained 43% this year.

Women in the advice industry

Latest News

Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says
Advisor headcount down at Bank of America, Osaic and UBS so far in 2025, Wolfe Research analyst says

Counting advisor moves in and out of firms requires some art as well as science.

Carson Group's M&A head sees '10-to-15 year bull market' for RIAs
Carson Group's M&A head sees '10-to-15 year bull market' for RIAs

“I'm just a big believer that based on demographics alone, we are looking at a 10-to-15 year bull market in M&A in the RIA and independent wealth space,” said Michael Belluomini, SVP of M&A at Carson Group.

Nationwide finds Medicare myth on long-term care could cost Americans dearly
Nationwide finds Medicare myth on long-term care could cost Americans dearly

As a tsunami of retirees comes crashing in, three-fifths of those surveyed believe – wrongly – that the federal safety net will cover their LTC needs.

Fintech bytes: Orion, Altruist unveil new RIA-focused integrations
Fintech bytes: Orion, Altruist unveil new RIA-focused integrations

Orion's latest update, a partnership with 11th.com, focuses on an underserved area of compliance for advisors and wealth firms.

Raymond James reels in advisors managing $1B+ in Colorado
Raymond James reels in advisors managing $1B+ in Colorado

The latest arrivals, including a 10-advisor ensemble from Ameriprise, bolster the firm's independent contractor and employee advisor channels.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave