Billionaire investment guru David Booth, one of the biggest names in Austin?s financial sector as founder of investment management powerhouse Dimensional Fund Advisors, is stepping away from the daily management of the firm he founded in 1981.
Booth is stepping down as co-CEO, although he will remain as the firm?s executive chairman, Dimensional Fund Advisors said in a news release.
Dimensional Fund Advisors is promoting David Butler ? who has been the firm?s head of global financial advisor services ? to the co-CEO role. Butler will be co-CEO with Eduardo Repetto, who has shared the CEO role with Booth for the past seven years.
As executive chairman, Booth will ? remain closely involved in the firm on strategic initiatives,? Dimensional Fund Advisors said in a news release.
