Steve Belgrad was named an executive vice president and CFO at Old Mutual Asset Management, effective June 1, as part of a new executive lineup for the multiboutique holding company announced Wednesday.
Mr. Belgrad will replace Matt Berger, who will remain at Old Mutual Asset Management as a senior vice president and director of finance.
Mr. Belgrad is CFO at HarbourVest Global Private Equity, a Guernsey-listed private equity fund of funds. He will resign May 31, according to a HarbourVest news release, and an announcement will be made when a successor is appointed.
The OMAM announcement comes almost two weeks after a company spokesman confirmed an executive shake-up at the firm, and less than three months after Peter Bain, former senior executive vice president at Legg Mason, was appointed president and CEO of the company. On April 28, the spokesman said five senior executives, including Matthew J. Appelstein, executive vice president and head of global distribution, have either left the firm or will leave in a matter of months.
In addition to Mr. Belgrad's appointment, Aidan Riordan will join the firm July 1 as a senior vice president and director of affiliate development. The position is new. Mr. Riordan will report to Linda Gibson, COO and head of affiliate management.
Mr. Riordan is a partner at private equity firm Calvert Street Capital Partners. Brian T. Mahoney, a senior partner at Calvert Street, couldn't immediately be reached for comment.
With Mr. Belgrad joining Mr. Bain and Ms. Gibson, three of OMAM's new four-member executive management team will be set. An OMAM news release said a search has commenced for a new head of global distribution, to be based in London, who will complete the team.