Recognizing Timothy D. Armour for Working to Improve People's Lives Through Successful Investing

Floor Speech

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Mr. SHERMAN. Mr. Speaker, I rise today to speak about Capital Group and one of its retiring leaders, Mr. Timothy D. Armour. Capital Group is not only headquartered, but was also founded more than 90 years ago, in my hometown of Los Angeles. Today, I want to recognize Tim for his contributions to the field of asset management and his dedication to the tens of millions of investors in the United States and around the world who have entrusted Capital Group to safeguard and grow their savings.

At the end of this year, Tim will retire from Capital Group, a firm he joined over 40 years ago at its Los Angeles headquarters. After graduating from the firm's early-career rotational program, he served as an investment research analyst covering telecommunications and U.S. service companies and later as a portfolio manager in several of the American Funds. He distinguished himself throughout his career as a savvy investor able to identify companies that deliver long-term value for their shareholders.

Tim also served in various leadership roles, including as Chairman of Capital Group's Management Committee and Board of Directors over the past 8 years. Under his leadership, the 92-year old firm expanded its reach to global investors while evolving to meet the demands of a changing world and provide for future success for the benefit of Capital Group's clients, associates and the communities where those associates live and work.

Tim has been regarded by his colleagues and peers within the financial services industry as the embodiment of Capital Group's core values. His personal integrity, long-term focus and commitment to clients have set the tone for the current generation of the firm's associates and created a legacy that the next generation can follow.

In anticipation of his retirement at the end of this year, associates of Capital Group were asked to characterize Tim's leadership with just a single word. The words most often repeated included kind, trusted, candid, inclusive, present, and caring. One close colleague added, ``It is rare to find a leader who cares so genuinely and openly about his colleagues and clients.'' I am proud to celebrate the career accomplishment of Tim Armour and wish him all the very best in life's next chapter.

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