Jeffrey Weingarten was named CEO of Grosvenor Fund Management and James Raynor was named chief investment officer, according to a news release.
Mr. Weingarten is non-executive chairman; his appointment as CEO is effective March 17. He will succeed Stuart Beevor, who is leaving the firm.
"Mr. Beevor decided after nine years that it is time to plan for a break before moving on to new challenges. We announced his decision to step down in April 2010, and he has led the Grosvenor Fund Management business since then, while we searched for his successor," stated Lorin Horosz, director of marketing for Grosvenor Americas in an e-mail.
Mark Preston, CEO of parent Grosvenor Group, will also become chairman.
Mr. Weingarten was CIO and managing director of Goldman Sachs Asset Management International from 1991 to 1995.
The CIO position is new. Mr. Raynor will retain his duties as director, continental Europe.
Arleen Jacobius contributed to this story.