Capital Group is a popular institution that was founded in the year 1931. The company was first established in Los Angeles, but it has managed to open offices in Australia, Asia, America, and Europe. The institution has grown significantly, becoming one of the largest investment management companies in the globe. The company is privately held, and it believed to have over one trillion dollars in assets under its management.
The Capital Group provides its clients with a variety of products. Some of these include mutual funds, investment services, and many others. The company acts through its famous subsidiary, known as American Funds. The company has a large clientele from different parts of the world.
In 2015, the board of directors in the international company announced that they had chosen Timothy Armour as the Chairman of the Capital Group. The board arrived at this decisions following the leadership succession plan that it had formulated several years ago. Timothy got the position after Jim Rothenberg passed away several months ago.
Before getting the special nomination, Timothy Armour was already working in the organization in several departments. According to reports from the company, Timothy was the director in two divisions of the company, and he had always fulfilled his duties successfully. Timothy has been working in the investment industry for more than fifteen years, and he has a lot of expertise. Armour has also been working with the Capital Group for several years too.
A few months after Timothy’s appointment, Samsung Asset Management announced that it was going to form a partnership with the Capital Group. According to news from the organization, the idea will make the two agencies to penetrate the fast growing international investment market easily.
The headquarters of Capital Group are found in Los Angeles, and the institution has proved to be one of the biggest asset management companies in the globe. Samsung Asset Management chose to partner with Capital Group because it is already doing well in the market, with offices and branches in twenty-three cities in the globe. The company also gives employment opportunities to more than seven thousand individuals in the world. The new partnership will benefit both companies at the end of the day.
Samsung Asset Management is currently the largest asset management agency that is found in Korea. The institution has been recording assets of more than one hundred and thirty billion. The organization is excited about the new partnership, and it hopes to increase its revenue. The signing ceremony took place at the Shilla Hotel that is based in Seoul. Timothy Armour and Samsung Asset Management President attended the ceremony.