Peltz’s Son-in-Law, Trian Co-Founder Garden to Leave Firm

Trian Fund Management, the activist investment fund led by billionaire Nelson Peltz, is losing co-founder Ed Garden as the firm faces its own succession episode.

Garden will retire as chief investment officer role after 18 years at the fund, according to an emailed statement. Garden, who is the son-in-law of co-founder Peltz, will focus primarily on managing his personal investments while also serving as a senior adviser.

Peltz and co-founder Peter May —- both octogenarians — will remain as chief executive officer and president, respectively.

Peltz’s son Mattand Josh Frank, who were co-heads of research, will ...