Bessemer Trust Co. named a new manager of emerging growth stocks and said it has changed the $400 million portfolio's parameters.

The New York-based company, which has $12 billion of assets under management, hired Harry P. Rekas as a senior vice president to manage the portfolio, intended for wealthy clients. Mr. Rekas, who has held similar positions with AIG Global Investment Corp. and Citicorp, replaces Frederick J. "Rick" Ruvkan, who resigned earlier this month after three years.

Bessemer's emerging growth strategy has been concentrated on U.S. stocks with small market capitalizations. Under Mr. Rekas, the portfolio is likely to include more mid-cap stocks.

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.