Capital Group, the investment management firm responsible for American Funds, has hired Reggie Hedgebeth as chief legal officer.
Mr Hedgebeth replaces Jim Ryan, who is retiring after 27 years with the firm.
He will be based in Los Angeles.
Most recently, he served as executive vice president, general counsel and chief administrative officer for Marathon Oil Corporation.
Prior to this, he worked as general counsel, corporate secretary and chief compliance officer for Spectra Energy Corporation, and general counsel for Spectra Energy Partners.
He began his legal career with King & Spalding, before taking on the roles of senior vice president, general counsel and secretary for Circuit City Stores, and vice president of legal for The Home Depot.
Tim Armour, chairman and chief executive officer, Capital Group said: “Reggie has had a distinguished legal career, having served as a general counsel across multiple industries. He brings broad and varied experience and has demonstrated an ability to empower the people on his teams. We welcome him to Capital.”
Commenting on the retirement of Mr Ryan, he added: “I thank and congratulate Jim Ryan for his outstanding service to Capital over the past 27 years. We wish him and his family the very best.”
Capital Group was founded in 1931. As of December 31 2020, it manages more than $2.3 trillion in equity and fixed income assets for millions of individual and institutional investors around the world.