Oaktree Taps AIG Vet Wintrob As CEO

Oct 6 2014 | 9:32am ET

Oaktree Capital Group, the alternative assets specialist with $91.1 billion under management, has named American International Group vet Jay Wintrob to the newly created post of CEO.

Wintrob, who has been a member of the Oaktree board since 2011, will have primary responsibility for developing and managing business.

He spent 27 years at AIG and predecessor companies (including SunAmerica), serving as resident and CEO of AIG’s retirement services businesses, which were renamed AIG Life and Retirement in 2009.

“After nearly 20 years, including the last two and a half as a public company, Oaktree has expanded substantially in terms of assets, employees, breadth and complexity. It’s time for us to turn to a world-class financial services executive to take our business to the next level,” said Howard Marks, chairman and co-founder.

“We are thrilled that Jay has agreed to take the helm, bringing to Oaktree his intimate familiarity with our business, vast experience managing large and complex financial services companies, and a record of leading highly motivated and talented professionals serving their clients.”

Bruce Karsh, president and a co-founder of Oaktree, will join Marks in the role of co-chairman. Karsh will continue as Oaktree’s CIO and as portfolio manager for its distressed opportunities and value opportunities strategies.

John Frank, who has served as Oaktree’s managing principal since 2006 and previously as general counsel, has been named vice chairman.

Oaktree emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high-yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 850 employees and offices in 17 cities worldwide.

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