Tony D. Fenner-Leitao was named CEO of managed futures specialist Winton Capital Management.
Mr. Fenner-Leitao replaces Anthony Daniell who assumed the role of non-executive chairman from the firm's founder, David W. Harding.
Mr. Fenner-Leitao was deputy CEO and will not be immediately replaced, said a source with knowledge of the company's plans who asked not to be identified.
Mr. Harding is not leaving the firm and continues his normal functions although his new formal title has not been determined, the source noted.
Robin Eggar, a Winton Capital Management spokesman, declined to comment on personnel matters.
Winton Capital Management runs about $26 billion for an increasingly institutional client base.