Tremont Capital Management announced that its chairman, Robert Schulman, will retire July 7.
Mr. Schulman, who will be succeeded by the company's president and chief executive officer, Rupert Allan, will become chairman emeritus of the Rye, N.Y., fund of hedge fund management company, it said Thursday. Mr. Schulman joined Tremont in 1994 as president and CEO. Previously he worked for Smith Barney Inc.
Mr. Allan was promoted to president of Tremont in 2006 after working as a managing director in its London office.
With Mr. Schulman's retirement, the Rye group will be managed by Jim Mitchell. He has returned to Tremont's headquarters after four years in the London office, which he led for two years, having succeeded Mr. Allan in that role.
Tremont Capital Management is the flagship unit of Tremont Group Holdings Inc.