A low-profile PM in charge of a billion-dollar mutual fund is stepping down. Columbia Management Investment Advisers senior VP and PM Stephen Barbaro is retiring at the end of the year.

Current co-PM Jeremy Javidi will replace Barbaro as the lead PM on Columbia's $1.6 billion, three-star Small-Cap Value Fund on June 30. [SEC filing.]

Spokespeople for Columbia were not immediately available for comment. Columbia is an affiliate of Ameriprise Financial [profile].

Barbaro has been at the shop for 36 years, having joined Columbia's predecessor, Fleet Street Advisors, in 1976, according to a bio available at Morningstar. He has also served as a senior investment analyst at Connecticut Mutual Life, and as a security analyst at Thomson & McKinnon.

Javidi has been with the firm since 2000, helping manage three index offerings and serving as junior portfolio manager and research analyst.  

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