Dimensional co-executive and chief investment officer Eduardo Repetto is to leave the smart beta pioneer in September, the company has announced.
His departure is the second significant change in leadership at the Austin, Texas-based business, which in February saw founder David Booth switch from being co-chief executive to executive chairman.
That change saw Dave Butler named co-chief executive alongside Repetto, who has held the position since 2010.
Repetto will be replaced in the top job by his current co-CIO Gerard O’Reilly, who will also continue in that role.
Booth (pictured below) is to continue in his role as executive chairman.
No reason has been given for Repetto’s departure after 17 years with the company, which has $518 billion in assets under management.
‘It has been a remarkable journey at Dimensional,’ he said. ‘I have been lucky to have had the opportunity to exchange ideas and develop friendships with so many amazing people from around the world.’
O’Reilly has been with the company since 2004 and has been co-CIO since 2014.
Booth said: ‘Gerard has been a vital member of both our investments and senior management teams over the past 13 years, and I look forward to working with him in this new role.’
He added that the firm would continue to operate a co-CEO structure.
‘The co-CEO model has worked well for our clients and the management of our firm over the years and remains the optimal structure for us going forward,’ he said.