Art Steinmetz was named president of OppenheimerFunds, confirmed Tanya Valle, a company spokeswoman.
The position is new. It represents an expansion of Mr. Steinmetz's duties as chief investment officer, as well as the responsibilities he has held as executive vice president, Ms. Valle said in an interview.
He will retain his current duties, which include overseeing “all equity, fixed-income and alternative investment capabilities including investment strategy, strategic planning and personnel,” according to an OppenheimerFunds news release issued Monday.
“In this new capacity, Mr. Steinmetz will help drive the firm's strategic mission and continue to foster and build the firm's investment capabilities and culture,” according to the release. “Mr. Steinmetz will continue to co-manage his investment strategies and portfolios. This new role also gives Mr. Steinmetz a more visible podium to represent the OppenheimerFunds brand.”
