Timothy Atwill, who was slated to become co-cio of Parametric Portfolio Associates later this year, will leave the firm instead, Spokesman Justin Meise confirmed, in an e-mail.

Atwill was scheduled to become co-cio alongside Thomas Lee in November upon the retirement of Jack Hansen, cio of Parametric’s Minneapolis Investment Center (fin|daily, 11/30).

However, Atwill will now leave the firm and the investment management industry on June 30, having “expressed that he wants to spend more time with his family and has not yet made any decision on future plans,” Meise said.

Lee will now become the sole cio of Parametric in November, Meise said.

Atwill joined Parametric in 2010 as a managing director of investment strategy and was promoted to his current position as investment strategy head in 2014, Meise confirmed.

“Tim is a great professional and human being, and it has been a pleasure to work with him,” CEO Brian Langstraat said, in a statement. “His leadership was integral to the development and implementation of our collaborative approach to systematic investment management focused on delivering high-quality, consistent performance.”

Parametric has announced several promotions on the investment and research team that will take effect on June 30 as a result of Atwill’s departure and the firm’s plans to integrate the leadership of all investment and research functions, Meise confirmed.

Head of Responsible Investing Jennifer Sireklove will become managing director of investment strategy and be responsible for all equity and commodity strategies, which were overseen by Atwill, Meise confirmed. She will remain in her current position until a replacement is hired.

Additionally, Paul Bouchey will work alongside Sireklove as co-strategist for Parametric’s systemic alpha strategies, the firm said.

Bouchey serves as cio and leads Parametric’s investment research and strategy activities for Seattle-based strategies and will become head of global research and development starting Nov.1 (fin | daily, 11/30/18).

Also, Greg Liebl, co-portfolio manager of the Parametric Commodity Strategy Fund, will serve as senior investment strategist of Parametric’s systematic alpha strategies, the firm said.

In addition, Atwill’s portfolio management responsibilities will be transferred to Sireklove, Bouchey, Liebl and the firm’s other portfolio managers, effective May 1, the firm said.

“We will continue to expand our investment and research teams and resources, which are a critical part of this organizational transition,” Langstraat added. “Over the coming months, we expect to hire for positions in responsible investing, quantitative equity research and portfolio construction, and liquid alternatives research and portfolio construction.”

Parametric has $216.6 billion in assets under management as of Dec. 31, the firm said.