Private investment firm Horizon Asset Management, Inc. has appointed Douglas Kramer as its chief executive officer. In a letter to clients on Wednesday, Murray Stahl, Horizon's chairman and chief investment officer, announced the appointment of Kramer, a former partner at Goldman Sachs Group Inc. (GS) and chief operating officer of Quadrangle Group.
In his new role, Kramer will oversee all of Horizon's non-investment functions and its strategic business development, as the company continues to build its asset management business and research team.
Kramer is well experienced in financial services industry as senior manager and investor. Prior to Quadrangle Group and Goldman Sachs, Kramer was a director of Columbia Energy Services in Texas and was managing derivatives portfolios. Commenting on the appointment, Murray Stahl said, "We look forward to leveraging Doug's successful track record and significant relationships with institutional and high net worth clients as we continue to invest in our investment process and our firm more generally."
Headquartered in New York City, Horizon is a federally registered investment advisory firm.
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