Curtis Jensen was named chief investment officer of Third Avenue Management, said Bridget Smith, a company spokeswoman.
He had been sharing the CIO duties with Martin J. Whitman, the firm’s founder. Mr. Whitman stepped down from the co-CIO position under a long-term succession plan; he will continue as co-manager of the Third Avenue Value Fund along with Ian Lapey, who eventually will be the fund’s sole manager, Ms. Smith said.
Mr. Whitman hired Mr. Jensen in 1995, after identifying him as a star student while Mr. Whitman was an adjunct professor at Yale School of Management, Ms. Smith said.
Third Avenue has about $16 billion in assets under management, Ms. Smith said.