Christopher Hayward was named partner, president and member of the executive committee at GoldenTree Asset Management, a spokesman confirmed.
He replaces Robert Matza, who is retiring. Mr. Matza will assume an advisory role to ensure a seamless transition, the spokesman said.
Mr. Hayward will be responsible for running the day-to-day operations of the business. He will report to Steven Tananbaum, founder, managing partner and chief investment officer of GoldenTree Asset Management.
Mr. Hayward was managing partner and co-head of J.P. Morgan Global Alternatives. His responsibilities will be assumed by Anton Pil, the other co-head of global alternatives, spokeswoman Kristen Chambers said.
GoldenTree manages about $30 billion in assets.