Co-founder David Kotok will remain chairman of the board and chief investment officer of Cumberland Advisors.
SARASOTA — John Mousseau has been elected president and CEO of Sarasota-based financial management firm Cumberland Advisors.
The move marks the implementation of a long-time succession plan, according to a press release. Co-founder David Kotok remains chairman of the board and chief investment officer. Mousseau will handle day-to-day responsibilities of running the firm.
Mousseau has over 30 years of investment management experience. He has been a member of Cumberland's management team for 18 years.
“The best way to insure the continuous delivery of a high level of quality service to our clients is to execute a well-thought-out succession plan,” Kotok says in a statement. “Many firms wait too long and become reactive to unfortunate events. At Cumberland, we want to be proactive, not reactive.”
Cumberland, a registered investment advisory firm, is also celebrating its 45th anniversary in June. The company opened in Vineland, N.J. and moved its principal office from Vineland to Sarasota eight years ago. It has 45 employees and more than $3 billion of client investment funds under management.
"Our firm has a great tradition of separate account management and personal service,” says Mousseau in the statement. “It is an honor to be elected president by our board of directors. I’m committed to maintaining the high standards of the past and to our continued growth.”