MSCI Finance Chief Obstler To Resign In August
05/30/2012| 05:34pm US/Eastern
MSCI Inc. (>> Msci Inc) said Chief Financial Officer David M. Obstler will resign to pursue other interests, and Robert Qutub was appointed to replace him.
MSCI provides stock indexes, portfolio risk evaluation and performance data to mostly institutional investors. The company has worked to expand its offerings, most notably through its $1.55 billion acquisition of proxy adviser RiskMetrics Group in 2010. Thanks in part to the acquisition, recent earnings have soared.
Qutub has worked for Bank of America Corp. (BAC) since 1994 and held several senior finance positions during that time, mostly recently as chief financial officer of consumer and business banking.
Obstler joined MSCI in June 2010 as chief financial officer, following the company's acquisition of RiskMetrics, where he was chief financial officer since 2005.
To ensure an orderly transition, Obstler agreed to stay on with the company until August 31 and Qutub's appointment will be effective after the company files its quarterly report for the June 30 period.
Earlier this month, the company said its first-quarter earnings rose as it continued to see revenue growth from subscriptions and posted a bounce in asset-based fees as global equity markets strengthened.
Shares closed Wednesday at $34.20 and were unchanged after hours. The stock is up 3.9% so far this year.
-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; email@example.com
Stocks mentioned in the article : Msci Inc