Updated with correction
David D. Grumhaus Jr. was named co-chief investment officer at Duff & Phelps Investment Management Co., a news release said.
Effective Feb. 1, he will share responsibility for leading Duff & Phelps investment team with Nathan I. Partain, president and CIO, who announced he will retire at the end of 2020.
Mr. Grumhaus will become CIO and assume Mr. Partain's responsibilities as the head of the firm when Mr. Partain retires.
Mr. Grumhaus is an executive managing director at Duff & Phelps, a portfolio manager and head of the firm's MLP and energy infrastructure strategy. He will continue to oversee those responsibilities.
A spokesman for the company could not be immediately reached for comment.