Experience matters. A bit cliched, but still very true. In no matter what you do nor what professional capacity or service you seek to obtain or utilize, it matters. And in the field of capital investment and portfolio management it doesn’t just matter, it’s essential.
The Capital Group Companies and it’s subsidiaries is one of the oldest and largest financial services and investment management companies in the world. Established in Los Angeles in 1931, Capital group has grown to manage close to $1.3 trillion in assets and has offices around the world in the Americas, Asia, Europe and also Australia. It’s long standing core values and management philosophy of accountability and research have allowed it to grow steadily since it’s founding and avoid the problems of many other firms, especially during times of great economic stress.
In July of 2015, Capital Group named Timothy D. Armour as Chairman of Capital Group Companies following the tragic loss of former Chairman James Rothenberg. James suffered a fatal heart attack while on vacation at the age of 69. Timothy Armour was head of the company’s management committee and the succession came as a natural plan that had been in place for years prior, as discussed by all the firm’s senior management committee staff.
Timothy’s long career experience at Capital Group started in 1983 as a participant in the company’s Associates Program, following his earning a Bachelors Degree in Economics from Middelbury College. Upon completing the Associates Program, Timothy Armour served as an Equity Investment Analyst at Capital Group covering global telecommunications and U.S. service companies.
A review by Janet Lang, CFA and published by Morningstar in Oct. 2015 gave Capital Group’s American Funds subsidiary an overall grade of A for it’s outstanding corporate culture, as well as it’s board quality, fund manager incentives, fees and regulatory history. The review attributes it’s corporate success to such long standing portfolio managers like Timothy Armour and it’s commitment to a tradition of patience and steadfast dedication to long term investing goals that have kept Capital Group “among the industry’s strongest stewards of investors’ capital.” Now that’s the value of experience and what it can mean for you.