Henrico County-based investment management firm TSW said it will have a new chief executive officer starting Jan. 1.
The firm, which was founded in 1969 and formerly did business as Thompson, Siegel & Walmsley LLC, announced that its current CEO, Frank Reichel, plans to retire on Dec. 31 and will remain at the firm as a senior advisor through September 2021.
John Reifsnider, TSW’s president, will succeed Reichel as CEO effective Jan. 1, while remaining president.
Reifsnider has worked for TSW for 15 years and served as president for the past two years, with a prominent role in day-to-day oversight of the firm. Before becoming president, he was a managing director primarily responsible for institutional marketing and client service.
Lori Anderson, director of operations with 42 years at TSW, will continue to manage oversight of operations and risk management. Chief Financial Officer Joseph VanCaster will take on an enhanced management role. Brett Hawkins will continue as chief investment officer.
Reichel also plans to step down from TSW’s board of managers in December.
“We will continue to ensure that TSW’s leadership structure serves both the firm and our clients well and positions us all for continued success,” Reifsnider said.
The firm has about $17.5 billion in assets under management.