Longtime CEO to retire from regulated funds industry association

Stevens

Paul Schott Stevens will retire from $75 million-revenue Investment Company Institute at the end of 2020, stepping down after more than 16 years at the helm of the association representing the regulated funds industry.

Stevens, 67, first joined ICI in 1993 as general counsel. He left in 1997 to work in the private sector but returned in 2004 to become CEO. His tenure as head of the association capped a long career in Washington, D.C, with Stevens previously having served on the National Security Council under President Ronald Reagan.

"I am immensely proud of the Institute's many achievements during my time as its president and CEO," Stevens said in a statement. "Over these years, we have transformed ICI into a truly global organization with world-renowned research and analytical capabilities that support our advocacy on behalf of funds and their shareholders."

Stevens received nearly $2.7 million in compensation in 2018, according to the latest available tax records.

Recruitment firm Russell Reynolds Associates is assisting in the search for Steven's successor.