Clarion updates leadership structure

Clarion Partners, in a letter to clients this week, has announced the elevation of David Gilbert to CEO of the organization, effective May 1. Steve Furnary will assume the role of Executive Chairman, with a continued focus on client relationships, M&A opportunities, and enhancing the firm’s investment offerings.

Furnary will continue to chair Clarion’s Executive Board and Board of Directors and will retain his role on the investment committee.

Gilbert will continue to serve as CIO of the firm, leading the investment engine. Most key business functions will report to Gilbert; finance and legal functions will continue to report to Furnary.