Nicholas Chalmers was named CEO of specialist credit manager Cairn Capital.
Mr. Chalmers replaces Paul Campbell, co-founder and a director. Mr. Campbell is now senior adviser and remains on the firm's investment and capital allocation committees, a Cairn news release said.
Mr. Chalmers was president and CEO of credit manager Oceanwood Capital Management. Mr. Chalmers' duties at Oceanwood have been assumed by Matthew Turner, director and chief operating officer, and Andrew Baker, director of business development, a company spokeswoman said.
"Now that we are approaching $5 billion of AUM, the time is right for me to hand over to Nick for the next phase of growth," Mr. Campbell said in the release. "I remain committed to the success of the firm and to the continued delivery of high-quality asset management services to our clients."
London-based Cairn managed $4.5 billion as of June 30 in European public and private credit strategies.