Basil Williams is joining MIO Partners as CEO on April 1.
Mr. Williams is to "oversee the entire organization" and join the board of directors, said Casey Lipscomb, MIO's general counsel and secretary, in an email.
Mr. Williams will replace the money manager's two current co-CEOs, Toos N. Daruvala and Todd Tibbets, Mr. Lipscomb said, noting that Mr. Daruvala is retiring and Mr. Tibbets will concentrate on his other position as CIO.
MIO Partners is the money management subsidiary of McKinsey & Co. and manages a total of $12 billion, with $4 billion from McKinsey's pension plans and the balance in after-tax investments for current and former McKinsey partners, Mr. Lipscomb said.
About 90% of MIO Partners' assets are managed by external managers, Mr. Lipscomb said.
Mr. Williams is CEO of Welton Investment Partners. He will not be replaced as CEO, said Patrick Welton, founder and CIO of the firm, in an interview. He described Mr. Williams' departure as "amicable."
Guillaume Detrait, now Welton's chief risk officer and chief operating officer, is to be promoted to the new role of president. He will retain his position as CRO but will not be replaced as COO, Mr. Welton said.
Welton Investment Partners manages $1 billion in systematic global macro, hedge fund and other alternative investment strategies.
