Los Angeles-based distressed-debt manager Oaktree Capital Group on Monday named its first CEO: former AIG executive Jay Wintrob.
Wintrob, who left AIG last month, will become chief executive Nov. 1, the company said in a statement. Wintrob has served on Oaktree's board since 2011. Most recently, he was president and chief executive of AIG's life insurance and retirement unit.
Oaktree, which manages about $91 billion in assets, went public two years ago. Among its holdings is a significant stake in Tribune Publishing, owner of the Los Angeles Times and other newspapers.
As part of the leadership change at Oaktree, co-founder and president Bruce Karsh will become co-chairman. He joins co-founder and current chairman Howard Marks in that role.
Managing principal John Frank is set to become vice chairman.