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Hedge Funds

Graham Capital announces management changes

James Medeiros

James Medeiros will become CEO of hedge fund manager Graham Capital Management at the end of February, one of a series of changes in the executive ranks of the firm.

Mr. Medeiros is senior managing director of investor relations. He will retain his senior managing director title and will replace Robert Murray as CEO, confirmed Kenneth G. Tropin, the firm's founder and chairman, in an interview.

Mr. Murray, in turn, will assume the role of vice chairman, replacing Paul Sedlack, who will retire in February. Mr. Sedlack also serves as the firm's chief operating officer.

Brian Douglas, the firm's chief financial officer, will become senior managing director and COO. He will be replaced as CFO by George Schrade, who now is executive director-financial reporting.

Messrs. Medeiros and Douglas will report to Pablo Calderini, Graham Capital's president and chief investment officer. Neither Mr. Tropin's nor Mr. Calderini's positions will change.

Mr. Tropin announced the news of the changes Monday in a letter to clients that was obtained by Pensions & Investments.

Mr. Tropin said in the interview that he will "still be around to offer advice, but I'm trying to make sure I've built a strong, effective, high-energy support team for Pablo going forward."

"James is an enormously talented guy and has a strong aptitude for the hedge fund business," he added.

Graham Capital managed $14.9 billion in quantitative and discretionary hedge funds as of July 1.