Jamie Raboy, partner and chief risk officer, was appointed to the additional role of chief operating officer at Marathon Asset Management, a news release said Tuesday.
Mr. Raboy assumed day-to-day COO responsibilities from Andrew Rabinowitz, partner, president and chief operating officer, who plans to leave the specialist credit manager in September to "pursue a new opportunity outside the money management industry," the release said.
Mr. Rabinowitz joined the firm in 2002.
He was not available to share his plans and a spokesman declined to comment.
Marathon won't replace Mr. Rabinowitz in the president's role, the spokesman said.
The firm appointed Jason Friedman, a partner, to the newly created position of global head of business development. He retained his position as head of corporate strategy.
"We are thankful to Andrew for his contribution and leadership, having helped build Marathon's strong foundation and success," said Bruce Richards, partner, chairman and CEO, in the news release.
"We are grateful that Andrew will continue to contribute to our organization as a member of Marathon's governance committee," he added.
Marathon manages $22 billion in public and private market credit, corporate loans and bonds, emerging market debt and structured credit.