Credit Suisse Asset Management Americas has hired Jim McCaughan as chief executive officer and promoted William W. Priest Jr. to chairman, a newly created position.

Mr. Priest, 58, had been chief executive officer since 1989. Mr. McCaughan, 48, was president and chief operating officer of Oppenheimer Capital, a unit of Pimco Advisors Holdings LP.

A spokesman said that the appointments, both effective Monday, were made to strengthen senior management. They were prompted by the firm's growth in assets after last year's purchase of Warburg Pincus Asset Management.

New York-based Credit Suisse Asset Management Americas is the asset management and mutual fund arm of Credit Suisse Group and manages over $75 billion of assets.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.