MONEY MANAGEMENT

Ramius names interim leader after departure of CEO

Fred S. Fraenkel was named interim head of asset management at hedge fund manager Ramius.

He will assume the duties of Michael Singer, Ramius’ former CEO who left to pursue other opportunities, until a permanent replacement is hired, said Thomas Strauss, chairman of Ramius and vice chairman of parent company Cowen Group, in a news release.

Mr. Fraenkel will remain as another vice chairman of Cowen Group, confirmed Daniel Gagnier, a spokesman for both companies, in an interview.

Mr. Singer could not be reached by press time about his future.

Ramius managed $10.7 billion in hedge fund strategies, including long/short equity, health-care royalties, global macro and managed futures as of Dec. 1.