Tue, 30/06/2009 - 14:51
Capital Z Asset Management, a sponsor of emerging hedge fund managers, has appointed James M. Marrone, Jr. as chief executive officer, effective 1 August 2009.
Marrone, who is currently head of business development and chief marketing officer at Capital Z, will retain those responsibilities. He replaces Christianna Wood, who resigned to pursue other opportunities effective 31 July 2009.
Laurence Cheng, chairman of Capital Z and founder of its predecessor firm Capital Z Investment Partners, will continue in his role as chief investment officer, providing leadership and guidance to the investment staff and investment decisions.
Cheng says: "Jim's appointment as chief executive reflects the strong contributions he has made to the firm since joining CZAM. In addition, I want to thank Christy for her strong leadership efforts and her valuable insights into global alternative investment markets. The strategic course she charted will serve as the basis for many promising business opportunities for CZAM, as well as the funds we have previously sponsored."
"I am excited about the future of CZAM, the strength of our investment team, our ability to continue to support the growth of our existing managers and the high-quality pipeline of emerging manager sponsorship investment opportunities," says Marrone. "Capital Z's sponsorship model, the oldest in the business, represents the very best hedge fund seeding model due to its strong alignment of investor and manager interests, as well as its detailed focus on transparency and governance. The track record compiled by Laurence and the rest of our team over the past decade is a testament to the strength of that model."
Marrone has over 29 years of experience in marketing, sales and finance. Prior to joining CZAM, he was a senior managing director at Bear Stearns Asset Management for ten years. Previously, he held marketing and product development positions at Capital Management Associates, Westpac Banking and Chase Manhattan Bank.
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