James Gruver joined hedge fund and private equity specialist Black River Asset Management on May 31 as senior managing director and global head of investor relations, confirmed Neil Moses-Zirkes, global head of human resources.
Mr. Gruver is responsible for marketing, broadening the firm's client base geographically, and expanding strategic partnerships with existing institutional investors, investment consultants and third-party intermediaries.
Mr. Gruver replaced Michael Grover, senior managing director, as global head of IR. Mr. Grover, senior managing director, remains on the IR team, reporting to Mr. Gruver, said Mr. Moses-Zirkes.
“James' appointment represents an evolution of a position for Black River. We wanted to bring investor relations to a new level and take it in a new direction,” Mr. Moses-Zirkes said in an interview.
Mr. Gruver most recently was managing director and head of strategic client management at BNY Mellon Asset Management. Mike Dunn, a BNY Mellon spokesman, said Mr. Gruver will not be replaced and his duties have been assumed by others on his team.
Black River Asset Management, a wholly owned, independently operated subsidiary of Cargill, managed $5 billion as of May 31, 2012, according to its most recent SEC ADV filing. The firm's client base is predominantly institutional.