Zak Summerscale was named head of credit fund management for Europe and Asia-Pacific at Intermediate Capital Group, effective in mid-June, said spokeswoman Helen Gustard in an e-mail.
Mr. Summerscale will replace Dagmar Kent Kershaw, who is leaving the firm at the end of June, Ms. Gustard wrote. Ms. Kershaw is taking a career break. Mr. Summerscale will report to Benoit Durteste, executive director and head of European investments.
ICG also named Kam Tugnait director of high-yield bonds. It is a new position, also effective in mid-June.
Messrs. Summerscale and Tugnait's positions will support the firm's efforts to further develop its alternative fixed-income capabilities, Mr. Durteste said in a news release. Mr. Tugnait will report to Mr. Summerscale.
Messrs. Summerscale and Tugnait both join ICG from Babson Capital Management where they were chief investment officer of European high-yield strategies and managing director of high-yield bonds, respectively.
A spokesman could not immediately be reached for information on their replacements.
ICG had €21.2 billion ($23.2 billion) in assets under management as of Dec. 31.
Sophie Baker contributed to this story.