The Oakmark Fund has appointed Kristi Rowsell as new president and trustee of teh company.

Ms Rowsell is president and CFO of Harris Associates, a Chicago-based investment management firm founded in 1976, which serves as the adviser to The Oakmark Funds and manages domestic, international and global portfolios for institutional and high net worth investors worldwide.

Ms Rowsell has served as the CFO of Harris Associates and The Oakmark Funds for the past 11 years. She has been with Harris Associates since 1995.

Ms Rowsell will succeed John Raitt who was most recently president and CEO of Harris Associates and who continues to serve as a senior US investment analyst of Harris Associates.

Mr Raitt said: “I am personally pleased to have Kristi named president. She brings high integrity, great skills, and a wealth of knowledge and experience. She will serve our shareholders well. This change also allows me to shift my focus and devote 100% of my energies to what I enjoy most, generating investment ideas for our clients.”