ValueAct’s Ubben taps Morfit for CIO post in succession plan

May 15, 2017 By Svea Herbst-Bayliss BOSTON (Reuters) – Activist hedge fund investor Jeffrey Ubben is handing over the reins of his $16 billion investment firm by promoting long-time business partner Mason Morfit to chief investment officer. Morfit, 41, will take over the position in July, Ubben said in a letter sent to investors on Monday, giving him the last word on the kind of investments ValueAct Capital Management LP makes. Morfit has been a partner for more than a decade and is currently president of the San Francisco-based hedge…

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