OppenheimerFunds Inc. announced Wednesday that it named Kurt Wolfgruber its president, a role formerly held by John V. Murphy, OppenheimerFunds' chairman and chief executive officer.
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Mr. Wolfgruber, who remains the New York company's chief investment officer, is now in charge of its retail and wealth management business units.
He joined OppenheimerFunds in 2000 as director of domestic equities and was named chief investment officer in 2003. Previously he spent 26 years at JP Morgan Investment Management.
OppenheimerFunds has doubled its assets under management since the end of 2001, to $235 billion as of Dec. 31.
