Tremont Chairman Schulman To Retire

Jun 26 2008 | 1:05pm ET

Fund of hedge funds shop Tremont Capital Management said today that Chairman Robert Schulman would retire next month.

Schulman joined Tremont 14 years ago as president and CEO. During his time at the firm’s helm, he was credited with institutionalizing Tremont’s development of proprietary investment products and its expansion overseas, as well as overseeing the firm’s acquisition by OppenheimerFunds in 2001.

In June 2006, Schulman relinquished the presidency of Tremont to Rupert Allan and focused on the firm’s single-manager products group, Rye Investment Management. Upon his retirement on July 7, he will hand the reins of that division to Jim Mitchell, who has spent the last four years in Tremont’s London office.

Schulman will retain the title of chairman emeritus through the end of the year.

“Bob’s contribution to the firm, to the industry and to everyone he touched professionally and personally here and in this business go beyond measurement,” Allan said. “I’m grateful, as I know we all are at Tremont, for everything he’s done for the firm.”

Schulman will focus on real-estate ventures and his three-year-old charitable organization in his retirement.

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