Capital Group announced in the summer of 2015 that an election within the Board of Directors had found Timothy Armour to be the new Chairman of the company. He is currently the Chairman of Capital Group’s management committee and Capital Research Management Company.
The election followed the passing of the former Chairman, Jim Rothenberg. The changes in the company had been a result of a succession plan that had been set in motion for many years, finalized by the former Chairman’s passing.
One of Armour’s best qualities is his continued optimism. In September 2015, he gave his thoughts about the market selloff that was triggered by China. After global stocks had tumbled and investors’ concerns grew about the economic growth in China, Timothy Armour remained steadfast. He claimed that the market correction was not unexpected and that a periodical correction can be healthy for the markets because it helps remove pockets of excess.
He saw these occurrences as growing pains in an economy that was transitioning from a close economy to a more open, consumer-driven economy. He claimed that the transition may be a rocky one but that people should use that rough turbulence as a chance to invest in the strongest companies along the way. Timothy Armour has an unrivaled way of making every situation into a winning one, no matter how bleak it may look to others.
One month later, in October of 2015, Capital Group and Samsung Asset Management (SAM) announced that they had joined together in a strategic partnership to develop investment strategies for investors in Korea. They would work together to enhance SAM’s investment capabilities. Timothy Armour claimed that the partnership would allow the two to co-design investment solutions for Korean investors, opening more doors for Capital.
Tim Armour and his business experience is plentiful. He is the Chairman of Capital Group Companies, as well as the Chairman and Principal Executive Officer of Capital Research and Management Company, Inc. He is also the Chairman of the Capital Group Companies Management Committee. In addition to these positions, he is also an equity portfolio manager, with over 3 decades worth of experience in the investment industry, every one of those years experienced with Capital Group.
At an earlier point in his career, he was an equity investment analyst at Capital Group, covering telecommunications and their U.S. service companies. Tim Armour started his career at Capital in 1983 as a member of The Associates Program. He attended Middlebury College, where he received his Bachelor’s degree in Economics.
Click here to learn more about Tim Armour