Harris Associates' and Oakmark Funds' Leadership Transition

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CHICAGO, Dec. 1, 2020 /PRNewswire/ -- After serving as Harris Associates' president and president of the Oakmark Funds for the last 10 years, Kristi Rowsell will retire from Harris Associates, adviser to the Oakmark Funds and an affiliate of Natixis Investment Managers, during the first half of 2021. Ms. Rowsell provided the firm with more than 25 years of distinguished service, which also included positions as chief financial officer and treasurer.

(PRNewsfoto/Harris Associates L.P.)
(PRNewsfoto/Harris Associates L.P.)

"Harris Associates has been the opportunity of a lifetime. It's been a privilege to work alongside such a talented team. The firm is on a great trajectory and it's time to turn the reins over to these talented leaders," said Ms. Rowsell.

Over the coming months, Harris Associates will carry out its leadership transition. Ms. Rowsell's transition will be effective as of December 31, 2020, and she intends to retire from the firm in the first half of 2021.

Chris Keller will be elevated from chief operating officer to Harris Associates' president. Rana Wright, while continuing in her role as general counsel, will be elevated to chief administrative officer of Harris Associates and appointed as president of the Oakmark Funds. The new leadership was selected to formalize areas where both Mr. Keller and Ms. Wright are excelling today. Both Mr. Keller and Ms. Wright will report directly to the Co-Chairman of Harris Associates Kevin Grant.

"We are grateful to Kristi for her many contributions and dedication to Harris Associates and the Oakmark Funds. It has been a pleasure working with her and she will be greatly missed," said Mr. Grant. "We would also like to congratulate Chris and Rana on their new roles. With their extensive experience, they will continue the firm's long history of exemplary client service."

Mr. Keller has been chief operating officer at Harris Associates since 2015. He is also vice president of the Oakmark Funds. Prior to joining the firm, he was a managing director at Goldman Sachs and a manager at Accenture. Mr. Keller received a B.A. from the University of Notre Dame (1987) and an M.B.A. from Cornell University (1989).

Ms. Wright has been general counsel at Harris Associates since 2018. She is also vice president of the Oakmark Funds. Prior to joining the firm, she was associate general counsel at Bank of America Merrill Lynch and a partner at Reed Smith. Ms. Wright received a B.A. from the University of Pittsburgh (2000) and a J.D. from the Duquesne University School of Law (2003).

ABOUT OAKMARK AND HARRIS ASSOCIATES

The Oakmark Funds are a mutual fund family that utilizes a long-term value investment approach. Oakmark's investment philosophy centers on the belief that superior long-term results can be achieved through investing in companies priced at a significant discount to what Harris Associates believes is a company's intrinsic value, with strong growth prospects and owner-oriented management teams. Oakmark's assets under management totaled approximately $48 billion as of September 30, 2020. More information about the Oakmark Funds is available at oakmark.com.

Harris Associates L.P., a Chicago-based investment management firm founded in 1976, serves as the adviser to the Oakmark Funds. Harris Associates also manages U.S., international and global portfolios for institutional and high-net-worth investors worldwide. Including Oakmark, assets under management at Harris Associates totaled approximately $86 billion as of September 30, 2020. More information about Harris Associates is available at harrisassoc.com.

Before investing in any Oakmark Fund, you should carefully consider the Fund's investment objectives, risks, management fees and other expenses. This and other important information is contained in a Fund's prospectus and summary prospectus. Please read the prospectus and summary prospectus carefully before investing. For more information, please call 1-800-OAKMARK (625-6275).

ABOUT NATIXIS INVESTMENT MANAGERS

Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered by the expertise of more than 20 specialized investment managers globally, they apply Active Thinking® to deliver proactive solutions that help clients pursue better outcomes in all markets. Natixis Investment Managers ranks among the world's largest asset management firms1 with nearly $1.1 trillion assets under management2 (€910.0 billion).

Natixis Investment Managers' distribution and service groups include Natixis Distribution, L.P., a limited purpose broker-dealer and the distributor of various U.S. registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, Natixis Investment Managers S.A. (Luxembourg), Natixis Investment Managers International (France), and their affiliated distribution and service entities in Europe and Asia.

1

Cerulli Quantitative Update: Global Markets 2020 ranked Natixis Investment Managers as the 17th largest asset manager in the world based on assets under management as of December 31, 2019.

2

Assets under management ("AUM") as of September 30, 2020 is $1,067.3 billion. AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.

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SOURCE Harris Associates L.P.