Todd Builione was appointed CEO of North America at Marshall Wace, a London-based hedge fund manager.
He will join the firm in September, replacing his predecessor in the role, Michael Sargent, who will retire in January 2024, a Marshall Wace spokesman said in an email.
The spokesman said he could not provide more information about Mr. Builione's hire.
Mr. Builione currently is a partner and head of global private wealth at KKR & Co.
Eric Mogelof will replace Mr. Builione in his current role and will retain his own current position leading KKR's client and global group globally, a KKR spokeswoman said in an email.
KKR has a "close strategic partnership with Marshall Wace and owns a 40% stake in the firm," the spokeswoman said.
"We are grateful to Todd for his many contributions to KKR over the past decades, including his role in helping source and execute our investment in Marshall Wace," said Scott Nuttall, co-CEO at KKR, in an email. "We look forward to working with him in his new role and deepening the strategic partnership between our firms."
Marshall Wace had $62.8 billion in assets under management as of May 1, and KKR managed $501 billion as of March 31.
