Steve Paddon joined OppenheimerFunds as senior vice president and head of institutional, said company spokeswoman Kaitlyn Downing.
He replaces Geoff Crumrine, who was appointed interim head of institutional in February and has now left the firm “to pursue other opportunities,” Ms. Downing said. She did not know where he had gone.
Mr. Paddon will direct the firm's institutional strategies and oversee the development of a plan to expand relationships with its institutional clients. He will report directly to John McDonough, head of distribution.
Mr. Paddon previously was head of consultant relations for Investec Asset Management's North American business. It could not be learned if he was replaced; Investec spokesman Richard Garland did not return a phone call by press time.
