Highland Capital Management has named a new co-CIO to join Mark Okada in managing its $13 billion under management.
Trey Parker, previously head of Highlands credit research platform, has been promoted to the newly created role. Both Parker and Okada will retain their current portoflio management responsibilities.
The alternative asset management firm said it added the new co-CIO position in order to keep up with increasing investor demand.
It gives me the ability to do my job better, Okada said. The two of us have been around a long time doing this. Our skills are complementary and overlapping.
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Parker has worked for Highland since 2007, serving as the portfolio manager for several of the firms credit funds. He previously was a senior associate at Hunt Special Situations Group, where he sourced and executed private-equity deals in distressed and turnaround situations.
Jon Poglitsch, who works as a managing director in Highlands credit department, will step into Parkers now-former position.
According to Okada, his role has been expanding over the years. He said sharing the CIO job with Parker will allow him to spend more time on the big picture, while Parker will dig into the more granular parts of the role.
None of this is changing the way were managing money, Okada said.
Parker agreed, adding that the change will help the firm get more things done on the offensive side.
We are trying to create an enhanced scalability, he said.