The move follows Calamos' decision to step away from his day-to-day role with the firm in August 2012 and his agreement to sell his private interest in Calamos Family Partners. Calamos has left the firm to pursue his interests in education and philanthropy, according to a company statement.

The separation agreement includes non-compete and non-solicitation provisions spanning four years following Calamos’ departure.

Meanwhile, John Calamos, chief executive, has announced his intention to form Calamos Partners to allow senior portfolio management and executives of the firm to participate in the private ownership of Calamos Investments.

As of October 31, 2013 the company had $27.8 billion in total assets.