Michael Pomada was promoted to president and CEO of managed futures manager Crabel Capital Management Tuesday.
Mr. Pomada will focus on research and product development, and retains one aspect of his former role as chief operating officer — oversight of the systematic trading firm's administrative teams.
He assumed the new positions from Toby Crabel, the firm's founder, who will remain chief investment officer and portfolio manager. Mr. Crabel also is taking on the new title of chairman and will remain involved in the hedge fund firm's strategic planning.
Richard S. Rusin assumed Mr. Pomada's COO duties, confirmed Lisa Martin, director of sales and marketing, in an e-mail. Mr. Rusin was COO of Crabel's AlphaTerra subsidiary, which was acquired in 2014.
“I couldn't be more pleased to promote these two gentlemen. Michael is a dynamic leader with great strategic vision, highly skilled and experienced on the investment side of the business and a strong and respected manager. … Rick joined us only a couple of years ago and he has already made a great contribution to our firm. We are thrilled to have someone of his experience heading up our operations,” Mr. Crabel said in a news release.
Crabel managed $2.4 billion as of July 1.
