20 Gates Management adds CIO

Charles Chen joined 20 Gates Management, a specialized institutional money management firm, as managing director and chief investment officer, confirmed spokesman Mark Semer, in an e-mail.

It's a new position.

Mr. Chen was president and CIO of Newfleet Asset Management until Dec. 31, 2011. In between, Mr. Chen took some time in weighing several options that included jobs in private equity financing and at several other money managers, Mr. Semer stated.