Richard W. Smirl is the CEO of Virtus Investment Partners, Inc., where he has been leading since May 3, 2021. He has a solid background in finance, earning a degree in Business Administration, and has been active in the finance...

Richard W. Smirl is the CEO of Virtus Investment Partners, Inc., where he has been leading since May 3, 2021. He has a solid background in finance, earning a degree in Business Administration, and has been active in the finance sector since 1992. Before joining Virtus, he was the Chief Operating Officer at Russell Investments. Smirl is known for improving operational efficiency and has played a key role in integrating multiple companies into Virtus’s umbrella, showcasing his leadership in enhancing the company's capabilities to support clients. He also champions Diversity, Equity, and Inclusion (DEI) in the workplace as the chair of the Diversity Council. His compensation reflects a strong performance incentive system; in 2023, his total compensation was approximately $6.165 million, with a salary of $425,000 and a hefty bonus of $1.925 million tied to the company's performance. This structure aligns executives' interests with the overall success of the company, which is critical in the highly competitive finance industry.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Virtus Investment Partners CEOs

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Richard W. Smirl

CEO of Virtus Investment Partners

Education

Bachelor's degree in Business Administration

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1967 - 58 years ago

CEO of Virtus Investment Partners for

3 years 11 months (May 2021 - Present)

Previous Experience

Chief Operating Officer for Russell Investments

Rivals

Competitors/colleagues of Richard W. Smirl

J

Ali Dibadj

CEO of Janus Henderson Group

2023 Compensation

Stock

$1.90M

Salary

$725.00K

Bonus

$3.08M

Other

$355.56K

Total Holdings

$635.28K

B

Laurence D. Fink

Founder and CEO of Blackrock

2023 Compensation

Stock

$4.03M

Salary

$1.50M

Bonus

$7.90M

Other

$1.09M

Total Holdings

$290.93M

A

Jim Cracchiolo

CEO of Ameriprise Financial

2023 Compensation

Stock

$0.00

Salary

$1.25M

Bonus

$8.38M

Other

$0.00

Total Holdings

$101.57M

E

John S. Weinberg

CEO of Evercore

2023 Compensation

Stock

$0.00

Salary

$500.00K

Bonus

$3.13M

Other

$0.00

Total Holdings

$718.97M

F

Gregory E. Johnson

CEO of Franklin Resources

2023 Compensation

Stock

$2.57M

Salary

$600.00K

Bonus

$1.90M

Other

$0.00

Total Holdings

$108.46M

Holdings

See how much did Richard W. Smirl make over time.

As of the latest data, Richard W. Smirl shows a strong personal investment in Virtus Investment Partners. In 2023, he earned around $6.165 million, with his compensation package heavily reliant on performance metrics. His effective management has likely reinforced shareholder...

As of the latest data, Richard W. Smirl shows a strong personal investment in Virtus Investment Partners. In 2023, he earned around $6.165 million, with his compensation package heavily reliant on performance metrics. His effective management has likely reinforced shareholder confidence. In 2021, Smirl's sign-on bonus was a notable $500,000, which is a significant initial investment in his new role. Over the years, his total stock at Virtus has seen significant valuation; for instance, the RSUs granted to him are projected to be worth considerably more as the company grows. He had $1.5 million in equity awards for 2022, indicating his solid ownership stake. This illustrates his commitment not only to his role but to the company's future.

Insider Trading

See recent insider trades of Richard W. Smirl.

VRTS

2,162 shares

VRTS

Mar 15, 2024

Received

VRTS

2,923 shares

VRTS

Mar 15, 2023

Received

VRTS

2,811 shares

VRTS

May 3, 2022

Received

VRTS

2,292 shares

VRTS

Mar 15, 2022

Received

VRTS

1,823 shares

VRTS

May 3, 2021

Received

Compensation History

See how much did Richard W. Smirl make over time.

Richard W. Smirl's compensation at Virtus Investment Partners is structured to reward high performance and align his interests with shareholders. In 2023, his total compensation was $6.165 million, broken down into a $425,000 salary, a performance-based bonus of about $1.925 million, and substantial stock awards worth $398,114. His 2022 compensation package included $407,250 in total, with incentives that reflect the company's operational achievements. As a CEO since May 2021, his pay reflects a direct result of meeting key company objectives, which includes increasing operational efficiency and enhancing client services. The bonus structure of his pay is tied to the company's financial success, showing a clear link between his decisions and the company's bottom line.

Year

2023

Total Compensation

$2.75M

Salary

$425.00K

Board Justification

The compensation philosophy is designed to attract and retain critical executive leadership, link compensation to Company, functional and individual achievements, and align executive compensation with the interests of shareholders.

Bonus

$1.93M

Board Justification

The annual incentive payout for the CEO was determined based on the Company's performance against pre-established financial, operational, and strategic objectives, with a maximum funding level set at 7% of operating income, as adjusted, prior to incentive compensation.

Other

$0.00

Board Justification

Restricted Stock

$398.11K(2.31K RSU)

Board Justification

The number of shares acquired upon vesting of stock awards during 2023.

Performance Metrics

The performance metrics for 2023 included operating margin, growth in operating income, total net flow rate, and EPS, diluted, as adjusted.

Other Virtus Investment Partners CEOs

Here are other CEOs of Virtus Investment Partners

George R. Aylward

Ex-CEO of Virtus Investment Partners

December 2008 - May 2021