Rupert Allan, president of Tremont Group Holdings, Inc., will assume the role of president and chief executive officer effective June 1. Allan, who joined Tremont in 2002, headed the firm’s London office before becoming president in January.
Among his other duties, Allan will have primary responsibility for the company’s flagship Tremont Capital Management fund of hedge funds operations.
At the same time, Robert Schulman, Tremont’s long-time chief executive officer, will be stepping aside to become president of the organization’s single manager division, Rye Investment Management. Schulman, 61, will remain as chairman of Tremont Group Holdings, Inc., and continue to serve on the Tremont Capital Management Investment Advisory Board.
“The growing size and complexity of our single manager business requires dedicated leadership,” Schulman said. “With Rupert embracing the presidency of the organization as quickly as he has, and accelerating Tremont’s transition towards a fully discretionary model and true global business organization, I have the ability to relinquish my day-to-day responsibilities with Tremont Capital Management and focus on the continued build out of our select manager series of products.”