James M. Marrone Jr. was named CEO of Capital Z Asset Management, effective Aug. 1.
He succeeds Christianna Wood, who resigned to pursue other opportunities, according to a CZAM news release. Ms. Wood was senior investment officer, global equity, at the $181.7 billion California Public Employees' Retirement System, Sacramento, before joining Capital Z as CEO in January 2008.
Mr. Marrone will retain his duties as head of business development and chief marketing officer. Prior to joining Capital Z in July 2008, he was senior managing director at Bear Stearns Asset Management.
“Capital Z's sponsorship model, the oldest in the business, represents the very best hedge fund seeding model due to its strong alignment of investor and manager interests, as well as its detailed focus on transparency and governance,” Mr. Marrone said in a news release.
Capital Z spokesmen Steve Bruce, Mary Beth Grover and Monica Everett could not be immediately reached for comment.
