Patrick W. O'Shaughnessy was named CEO of O'Shaughnessy Asset Management, succeeding his father, James P. O'Shaughnessy.
James O'Shaughnessy, the firm's founder, remains principal, chairman and chief investment officer, a company news release said. Patrick O'Shaughnessy, also a principal, was a member of the firm's research and portfolio management team for the past 11 years. He now is responsible for day-to-day operations, research, portfolio management, investor education and client service.
Both Patrick and James O'Shaughnessy will retain their portfolio management duties.
"Patrick has enhanced our investment process, enriched our client service and opened new doors of opportunity for the firm. Now, he will lead our team as we expand upon what we have spent decades building and pave the way for an even stronger future for OSAM and our clients," James O'Shaughnessy said in the release.
OSAM has $6.9 billion in assets under management and advisement in quantitative global equity strategies for institutional and high-net worth investors.