Diamond Hill Capital Management revamps executive ranks

Diamond Hill Capital Management promoted three executives to new positions within the company, according to spokeswoman Susan M. Stuart.

Chris Bingaman was appointed president; Ric Dillon will assume the role of vice chairman; and Lisa Wesolek has been named chief operating officer.

All three positions are new and are effective Jan. 1.

Mr. Bingaman and Ms. Wesolek report to Mr. Dillon, who is president and CEO of Diamond Hill Investment Group, the holding company for Diamond Hill Capital Management. Mr. Dillon will retain those roles. Mr. Bingaman and Ms. Wesolek will continue to report to Mr. Dillon in their new roles.

Mr. Bingaman is currently co-chief investment officer and portfolio manager for Diamond Hill's Financial Long-Short Fund and a co-portfolio manager for Diamond Hill's Long-Short Fund. He will retain those roles.

Mr. Bingaman is expected to succeed Mr. Dillon as CEO in January 2016, Ms. Stuart confirmed.

Mr. Dillon is expected to succeed Don Shackelford as board chairman of Diamond Hill Investment Group in 2015 when Mr. Shackelford's term expires. Mr. Dillon also intends to continue serving as a portfolio manager.

Ms. Wesolek is managing director and head of distribution, responsible for the firm's distribution strategy, including business development, marketing and client service. She will retain those responsibilities as COO.