Christopher Conkey, chief investment officer of Boston-based Evergreen Investments, Wachovia’s asset management unit, is to leave by “mutual agreement" on 14 August after more than 20 years at the company. Mr Conkey was named CIO in 2003 since when Evergreen's assets have increased by 14 per cent to $281 billion. His departure comes after Evergreen's stock funds underperformed half their peers in the past year, according to Chicago-based Morningstar. Evergreen’s chief executive officer Dennis Ferro will assume Conkey's responsibilities until the company finds a successor.