Jeffrey Skelton, co-founder of Symphony Asset Management, retired as president and CEO of the hedge fund and fixed-income firm, according to Kathleen Cardoza, spokeswoman for parent Nuveen Investments.
Mr. Skelton left the firm June 30, Ms. Cardoza said.
Michael Henman, director of business development at Symphony, and Neil Rudolph, chief operating officer at Symphony, will handle Mr. Skelton's previous duties while a search is conducted for a permanent replacement, Ms. Cardoza said. Gunther Stein, Symphony CIO, will head up the search for a senior executive “who will help lead Symphony into the next generation,” she said.
Mr. Skelton could not be reached for comment.
In his 15 years at Symphony, Mr. Skelton helped expand the firm's strategies beyond its original market-neutral hedge funds and long-only U.S. equity approaches to now include equity and fixed-income strategies like convertible arbitrage, high-yield bond, concentrated long-short equity, senior bank loan and multistrategy hedge funds.
Symphony manages $7 billion in assets.