Capital Group was launched in Los Angeles in 1931. Over the years, the company has become one of the oldest and leading investment firms across the globe. It is famous for its long-term focus on the investment solutions it offers, and its presence in more than 20 cities including Sydney, Tokyo, and London.
Capital Group gained a new chairman, Timothy Armour in July 2015. The change in the company’s leadership was part of a larger succession plan that had been ongoing for a couple of years but was accelerated when Capital’s former chairman, Jim Rothenberg, passed on. Rothenberg had been working at the company since 1970 and significantly contributed towards its worldwide expansion. While expressing the depth of their grieve following the death of Jim, Tim described Jim as a friend, colleague, and a purposeful leader who was good at taking decisive actions that catered for the long-term interests of the Group’s clients, associates, and investors.
Timothy Armour is also the chairman, director and the principal executive officer of Capital Research and Management Company that is a part of the Capital Group. He also chairs the Capital Group Companies Management Committee. His election as the chairman of Capital Group was made public on July 28, 2015. With the support of the other senior members of the Group, Timothy Armour plays the roles of setting, communicating, implementing overall business strategies, and overseeing the operations of Capital Group.
The Los Angeles-based investment professional graduated with a bachelor’s degree in economics from Middlebury College, LA. He has earned his 32 years of experience in investment matters with Capital Group. Timothy Armour first joined Capital Group in 1983 as a participant in The Associates Program. Later on, although still at the beginning of his career, Timothy worked as an equity investment analyst at the company where he was in charge of global telecommunications, as well as the U.S service organizations.
Four months after Timothy Armour took up the chairmanship, Capital Group and SAM announced their new partnership. The Seoul-based company is the leading asset manager in Korea managing assets worth more than US$165.7 billion. Timothy Armour explained that the broader plan of the partnership is to co-design investment solutions with the capacity to meet the savings, retirement and insurance needs of the Korean investors. He added that the solutions offered via the partnership would be based on the Group’s unique and proven technique (The Capital System), and its philosophy that seek to ruin the company’s operations and objectives with long-term investors.