David Fann was promoted to president and CEO of PCG Asset Management, a subsidiary of PCG Holdings, a private equity consulting and asset management firm, he confirmed. Mr. Fann replaces Monte Brem, who was president of PCGs asset management unit when he left in September; the unit became a separate legal entity last month. Mr. Fann was managing director. As part of the new management structure, Mark Oemcke, managing director, was named chief operating officer; Michelle Davidson, managing director, is head of portfolio management; and Jay Rose, senior vice president, is head of research. Separately, board member Gerard K. Drummond was named chairman of PCG Asset Managements new board of directors.