Leuthold Weeden Founder to Step Down as CIO
Steve Leuthold has elected to step down as chief investment officer at Leuthold Weeden Capital Management and will have a new, reduced role at the firm he founded 25 years ago, the company announced Monday.
Going forward, Leuthold will serve as a co-portfolio manager and will advise on a few portfolios.
Doug Ramsey, the firm's director of research, will replace Leuthold as CIO, and the firm's co-portfolio manager, Eric Weigel, will replace Ramsey.
Leuthold Weeden advises on mutual funds and private investment portfolios of $1 million or greater. Its founder Steve Leuthold is a widely-quoted investment strategist. His observations about investment markets are cited often in trade journals and investment publications, and on broadcast media financial programs.
Leuthold will continue to serve on the boards of the Leuthold mutual fund family and Leuthold Weeden, and he'll maintain his ownership stake in Leuthold Weeden. His new reduced role will have minimal impact on the business functions of the firm, Leuthold Weeden said.
“Steve Leuthold's remarkable career spans nearly 50 years in the investment industry,” co-CEO John Mueller said in a statement. “He established and grew Leuthold Weeden's reputation for insightful research that is well followed and widely regarded by investors looking for our proprietary calculations, contrarian views, and insights into the market.”
Minneapolis-based Leuthold Weeden is among the state's 20 largest asset management firms based on assets under management-which totals about $3.6 billion. The firm has a broad-based ownership structure with 34 employees and 10 dedicated investment professionals.