Global investment firm Thornburg Investment Management Inc. announced that CEO and President Jason Brady will leave the firm later this year. A successor has yet to be named.

The Santa Fe, NM-based provider of mutual funds, institutional accounts and separately managed accounts said Brady will also leave his position as portfolio manager and member of the board of directors.

Thornburg did not specify why Brady is leaving or give an exact departure date, but Brady will continue in his role while the board of directors looks for a successor.

“Since joining Thornburg in 2006, I am proud of what we have achieved, particularly the strength of the team we have developed, and I’m grateful for the opportunity to serve as the firm’s president and CEO for nearly eight years,” Brady said. “This is the appropriate time for a new leader to step in, and I remain fully involved and engaged while the board searches for a successor.”

Prior to joining Thornburg, Brady worked as a senior portfolio manager at Fortis Investments and as a trader in corporate bonds at Fidelity Investments.

“I thank Jason for delivering strong results across our business and notably assembling an experienced group of world-class leaders at the organization,” Garrett Thornburg, the company’s chairman, said.

Thornburg has $41 billion in assets under management and $1 billion in assets under advisement.