Calamos Hires Ex-Janus CEO
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Calamos Investments (CLMS) has hired Gary Black, former CEO of Janus, as its global co-chief investment officer. Black will join the firm's investment committee and will oversee portfolio management, research, trading, and risk management. Black will share those responsibilities with firm founder John P. Calamos Sr. At the same time, Nick Calamos will step back from his role as president of investments and co-chief investment officer. Nick Calamos will remain an advisor to the firm and will continue to serve on its board of directors.
Black is best-known for his stint at Janus Capital Group (JNS), first as its president and then as CEO between 2006 and 2009. His stint at Janus was positive, albeit marked with controversy. He moved the firm away from its star manager system to one that was more collaboration-based, altering the firm's compensation plan along the way. That led to a string of high-profile managers heading for the exits.
Rob Wherry does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.