Boston Trust & Investment Management Company has announced that effective January 1, 2017, Domenic Colasacco, 68, will step down from his role as President and Chief Executive Officer. Succeeding Mr. Colasacco and comprising the firm’s Executive Committee of the Board will be Stephen J. Amyouny, CFA, William H. Apfel, CFA and Kenneth P. Scott, CFA. Each has been named Executive Managing Director.
Mr. Colasacco will continue to serve as portfolio manager for the institutional and individual client portfolios he has overseen for many years. In addition, Mr. Colasacco will retain his role on the firm’s investment and portfolio strategy committees, and remain Chairman of the Board of Directors.
Said Mr. Colasacco: “A few months ago, when I shared my decision with the board to step down as CEO, the Directors unanimously agreed to fill the role with a three‐person committee comprised of Steve Amyouny, Bill Apfel and Ken Scott. In many respects, this decision is simply an evolution of the governance structure the firm has had in place for many years. The Executive Committee of the Board, currently Bill, Ken and me, will be revised with Steve replacing me. I have complete confidence in the committee to lead Boston Trust, as well as in the deep and talented team of professionals we have assembled to support them.”
In addition to sharing responsibilities of the Executive Committee, the three named individuals will continue to serve the firm and its clients in their prior roles. Mr. Amyouny is a portfolio manager for several of the firm’s investment strategies, as well as for many individual client portfolios. Mr. Apfel will remain as the firm’s Chief Investment Officer, a position he has held for many years, and Mr. Scott will retain his primary responsibility as lead portfolio manager of the Small and SMID Cap equity strategies.