In This Article:
Effective September 25, 2024:
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Eric Sorensen stepping down as CEO, transitioning to Vice Chair and continuing to serve as a member of PanAgora's Board of Directors
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Bryan Belton, a veteran PanAgora portfolio manager, appointed President and CEO
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George D. Mussalli promoted to Global CIO
BOSTON, Sept. 25, 2024 /PRNewswire/ - PanAgora Asset Management, Inc. (PanAgora), a preeminent quantitative investment manager, today announced changes to its executive leadership team that will help drive the company into its next phase of growth. These changes, effective immediately, reflect thoughtful succession planning and elevate leaders to deliver on strategic priorities.
After 40 years in the industry and an impressive 20-year tenure at PanAgora, today Eric Sorensen will be stepping down from his daily responsibilities as President and Chief Executive Officer. As part of this transition, Mr. Sorensen will assume the role of Vice Chair and will remain a member of PanAgora's Board of Directors. Here, PanAgora's clients and investment teams will continue to benefit from Mr. Sorensen's insights and thought leadership. This is the natural next step on a strategic path the firm has been working towards for some time.
"The Board of Directors is grateful for the decades-long commitment Mr. Sorensen has provided, helping us build PanAgora into a global innovator in quantitative investing. Mr. Sorensen has been a tremendous leader and mentor, playing a key role in talent development, as reflected in the changes announced today," said Robert L. Reynolds, Chair of PanAgora's Board of Directors. "We are confident that the vision, talent and perspectives PanAgora's leadership team brings to the table will drive PanAgora's next phase of growth, while deepening trusted client relationships."
Succeeding Mr. Sorensen as President and Chief Executive Officer will be Bryan Belton, a veteran portfolio manager and respected leader at PanAgora for nearly 20 years. Mr. Belton has consistently excelled during his long career in the asset management industry, spanning trading, portfolio management, research and client relations. Mr. Belton will also be appointed to PanAgora's Board of Directors.
"I am immensely proud of the PanAgora team and am confident this plan will enable the firm to continue to deliver attractive, risk-adjusted returns for our clients for decades to come," said Eric Sorensen. "Mr. Belton's solutions-oriented approach is a hallmark of the firm's culture and business model. Under this leadership team, PanAgora and its clients are well-positioned for continued growth."