CEO to step down from regulated funds industry association having grown its world reach, communications capabilities
Jan. 31, 2020
By Walt Williams
Paul Schott Stevens will retire from $75 million-revenue Investment Company Institute at the end of 2020, stepping down after more than 16 years at the helm of the association representing the regulated funds industry.
In an interview with CEO Update, Stevens said he felt now was the right time to leave the organization, with the group having recently completed a senior leadership transition that resulted in the installment of a new chief economist, general counsel, COO and additional government affairs staff.
“I will, at 16-and-a-half years by the end of this year, be the longest-serving president of the ICI in its 80-year history, so it’s not like I cut my tenure short,” he joked. “But it just seemed to be a good time to be stepping down. We’ve gotten a lot accomplished. … There is a sense of handing over to a new generation, if you will, the reins.”