GMO Promotes Hilsabeck to CEO as Mayer Departs Investment Firm

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Grantham Mayo Van Otterloo & Co. named Brad Hilsabeck chief executive officer of the Boston-based money manager, replacing Marc Mayer.

Hilsabeck has been with the firm since 2003 and most recently served as head of global client relations, GMO said today in an e-mailed statement. Mayer, who became CEO in March 2009, is leaving to “pursue other interests,” the company said.