BlueBay Asset Management has promoted Erich Gerth to chief executive following the confirmed departure of Alex Khein.
Gerth will take up the position on 1 May and Khein will remain at the firm in an advisory capacity until the end of the year, a spokeswoman has confirmed to PDI.
The spokeswoman for BlueBay said that Gerth had been earmarked for the position since 2015.
Gerth joined the London-headquartered asset manager as a partner in 2012 and served as head of the firm’s global business development. He was appointed to the firm’s board at the beginning of 2014.
Before joining the firm, he spent three years at Aviva Investors, where he was chief executive of the firm’s Asia Pacific global business development division and has held other positions at Janus Capital Group and Goldman Sachs Asset Management.
Khein is understood to be moving to a new venture connected to his interest in technology, Pensions & Investments has reported. He joined the firm in 2004 as chief operating officer and took over as chief executive in 2014. Previous roles included seven years as an executive director at Morgan Stanley, according to his LinkedIn profile.
Last year, it was confirmed that the firm’s head of global leveraged finance Anthony Robertson was to leave due to personal reasons and be succeeded by Justin Jewell and Tom Kreuzer.
The $57 billion asset manager established its direct lending operation in 2011. Headed up by Anthony Fobel, the firm raised more than €2 billion for its BlueBay Direct Lending Fund II at the end of 2015.