OppenheimerFunds’ Wilby to retire

OppenheimerFunds Inc. Wednesday said Bill Wilby will retire from the New York-based company June 30 after 16 years of service. Mr. Wilby was portfolio manager of Oppenheimer Global Fund for more than 12 years until stepping down in Sept. 2005. As leader of OppenheimerFunds’ global team from Oct. 1992 to July 2004, he built the model for the firm's team-based approach to investing and “attracted and developed some of the best investment professionals in the industry,” OppenheimerFunds said in a statement. Under his leadership, OppenheimerFunds’ global equity assets grew from about $1 billion to a more than $60 billion franchise. From July 2005 to January of this year, Mr. Wilby was director of equities, helping develop investment strategies and talent across OppenheimerFunds’ four equity teams. In October 2005, he became co-manager of Oppenheimer Capital Appreciation Fund. Marc Baylin, current co-manager of Oppenheimer Capital Appreciation, will assume the role of lead manager of that fund effective July 1. Two senior analysts recently joined OppenheimerFunds’ growth team to provide additional support on the fund, the company said. “Bill had a tremendous impact on OppenheimerFunds and his legacy is that he built one of the best equity organizations in the business,” John V. Murphy, chairman and CEO of OppenheimerFunds, said in a statement. “In his time with us, our fund shareholders have benefited from his experience, expertise and insights.”