Hedge fund Och-Ziff Capital Management Group LLC named a Wall Street veteran to replace founder Daniel Och as chief executive officer after a high-profile battle for the firm’s future that pitted Och against his one-time chosen successor.
Och-Ziff OZM, +4.35% , the largest U.S. publicly traded hedge fund, said Robert Shafir would become CEO effective Feb. 5.
Och will remain chairman for the next year, but will give up the chairman position on March 31, 2019, “after which time he expects to remain involved with the firm,” the company said in a press release.
Shafir, 59, previously served as the chief executive of Credit Suisse Americas and co-head of Private Banking & Wealth Management at the firm. He also worked at Lehman Brothers for 17 years.
An expanded version of this report appears on WSJ.com.
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