Tim Armour has been in the investment business a long time. He attended Middlebury College of Vermont where he obtained a Bachelor’s degree in economics. He has worked his entire career at the Capital Group spending the last thirty-two years with them. Tim started in the Associates Program where he managed to be promoted through various ranks over the years. He was an equity investment analyst covering global communications, a portfolio manager and most recently chairman of the management committee.
Tim was named the chairman and chief executive office in July of 2015 when Jim Rothenberg passed away suddenly from a heart attack. He was 69 and was on vacation when this sad event occurred. Tim was groomed for the position even though, Rob Lovelace would have been a good option as well. Rob is the grandson of the company’s founder, Jonathan Lovelace.
In October of 2015, the Capital Group and Samsung Asset Management created a partnership to provide retirement solutions and asset allocation products. The Samsung Asset Management is located in Korea. Capital Group will provide much-needed direction to encourage “Capital-style active management.” Samsung Asset Management has a lofty goal of becoming one of the top three homegrown asset management companies by 2020. Tim Armour’s comments included working together to create for investment solutions, retirement and insurance related benefits in the Korean market.
Tim Armour had some interesting insights into the market selloff that occurred in September 2015. The selloff occurred due to the transition of the economy moving toward more of an open system being lead by consumers. He indicated investors should be ready, as the transition may not be seamless but will give the opportunity to invest in strong companies while the dollar is down. Getting through the low times and making the most of other peoples reactions to the market can provide great gains in the future if you are slow and steady.
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