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BrightSphere Investment Group promotes finance chief to CEO

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BrightSphere Investment Group has promoted chief financial officer Suren Rana to chief executive officer and president, with Rana taking over the roles from the outgoing Guang Yang.The appointment is effective immediately, and Rana will also join the board of directors. 

In addition, the Board has elected John Paulson to succeed Yang as chairman.

Paulson says: “Suren Rana will be leading the Company as CEO going forward. As we look to grow our assets, we have found that tailored efforts led by our affiliates directly, rather than centralised efforts, have been the most productive. Therefore, going forward, the company will focus its distribution and product development efforts at the affiliate level and will cease the supplemental efforts at the corporate headquarters by transitioning them to the affiliates. Suren will lead this targeted approach and his experience in capital and resource allocation will be an asset going forward. With a diversified group of seasoned investment managers and a majority of our business focused on quantitative and private alternative strategies, BrightSphere is well positioned for organic growth.

“On behalf of the board, I would like to thank Guang for his efforts at the company.”

Rana says: “I look forward to supporting our world-class affiliates in growing their respective businesses. Focusing our organic growth efforts at our affiliates will also allow us to further streamline our corporate centre to be leaner and more efficient.
 
“Our businesses generate strong free cash flow and we plan to deploy it to support our affiliates’ continued growth, manage leverage and repurchase our stock, as and when appropriate, in order to maximise value for our shareholders.”

Concurrent with Rana’s appointment, Christina Wiater has been appointed as principal financial officer and principal accounting officer. Wiater is currently the company’s controller and chief accounting officer, having joined the in 2009 after previously working in the assurance practice at PricewaterhouseCoopers.

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