Partners Group posts profit drop, replaces CEO
Partners Group posts profit drop, replaces CEO ZURICH, Sept 1 (Reuters) - Swiss private equity heavyweight Partners Group PGHN.S reported a net half-year profit of 502 million Swiss francs ($620 million) on Tuesday, down 13% year-on-year, following turmoil around its open-ended funds that hit shares.
The company also announced that CEO David Layton will step down from the executive team. Roberto Cagnati and Juri Jenkner will be appointed co-CEOs, Partners Group said.
(Reporting by Ariane Luthi, Editing by Friederike Heine)
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