Analysts don’t expect Dan Arnold’s termination to disrupt the day-to-day, and they have confidence in interim CEO Rich Steinmeier and the rest of the management team.
CEO Peter Mallouk will keep his majority stake and continue to lead the firm. TPG will join General Atlantic, which made its own minority investment in the firm in 2020.
Josh Hederick filed his complaint in North Carolina federal court, alleging that Edelman’s litigation record means he can’t trust they’ll work with him on his departure “in good faith.”
Grewal’s last day will be Oct. 11. He joined the commission in 2021 and has overseen numerous notable cases, including the first actions related to Regulation Best Interest.
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