ICI CEO Eric Pan sets June 30, 2027 departure as board seeks successor

Eric J. Pan plans to step down as president and CEO of the Investment Company Institute in 2027, ending six years at the head of a trade association whose members manage more than $37.7 trillion.

ICI said in a release published Oct. 19 that Pan agreed to stay until a replacement is found, with a plan to leave by June 30, 2027. The ICI Board of Governors asked Pan to delay his departure and keep serving while it searches for a successor.

ICI said its leadership team will continue to oversee policy advocacy, member engagement and strategic priorities through the transition. The release named no candidates, no search committee and no deadline for choosing a successor beyond the June 30 date Pan is working toward. It does not identify any change to ICI's advocacy priorities.

The board that asked Pan to stay is chaired by Andrew Schlossberg, Invesco's president and CEO, who was re-elected ICI chair this month, per RCD's earlier reporting. In the release, Schlossberg called Pan “a tireless advocate for our industry and the millions of Americans who depend on it to achieve their financial goals,” and credited his vision and determination for having “strengthened ICI” and “elevated our voice in critical policy debates.”

“It has been a privilege to lead ICI and work alongside an extraordinary team on behalf of an industry that plays such an important role in Americans' financial futures,” Pan said in the release.

Pan launched a comprehensive strategic repositioning in 2021, according to the release. The initiative set a multiyear modernization agenda for ICI, broadened its focus to reflect a changing asset management industry and strengthened its policy engagement in Washington and internationally. ICI's members include Fidelity, Vanguard, Morgan Stanley and BlackRock.