Josh Vail was named president of quantitative equity manager 361 Capital, the company announced Thursday.
Mr. Vail will report to Thomas Florence, chairman and CEO. Mr. Florence had also been president of the firm.
In an interview, Mr. Vail said he would be responsible for operations, distribution, product development and management. Mr. Florence will still oversee the $1.6 billion money manager's investment team.
361 Capital is looking to build its institutional business, primarily through consultant relationships, Mr. Vail said. The firm also targets retail investors and bank trusts.
Mr. Vail was senior vice president, director of sales. His previous duties will be assumed by Toller Miller, vice president and director of sales; Mr. Miller was director of sales for the Southeast U.S.