Trey Parker was promoted to co-chief investment officer of alternative credit manager Highland Capital Management.
The position is new, created to share investment duties with Mark Okada, CIO and co-founder, who is increasingly involved in the day-to-day running of the firm, said Lucy Bannon, a Highland spokeswoman, in an email.
Mr. Parker, a partner, was head of the firm's credit research platform, a role that has been assumed by Jon Poglitsch, managing director.
Messrs. Parker, Poglitsch and Okada will retain their current portfolio management duties, Ms. Bannon said.
Mr. Parker will continue to manage various institutional funds and separate accounts as well as the Highland Opportunistic Credit Fund, which he co-manages with James Dondero, Highland's president and co-founder.
Mr. Poglitsch remains the firm's lead energy sector analyst and co-manager of the Highland Floating Rate Opportunities Fund with Mr. Okada.
Like Mr. Parker, Mr. Okada will continue to manage institutional funds and separate accounts as well as continue as head of Acis Capital Management, Highland's structured products business.
"This is a well-earned promotion for Trey. For over a decade, Trey has been a driver of operational alpha in numerous areas across the firm, from streamlining research and risk management processes to enhancing collaboration across disciplines," Mr. Okada said in a news release.
Highland Capital manages $13 billion in a spectrum of credit strategies.