Highbridge Capital Management CEO Glenn Dubin announced Friday that he has named a successor.
Scott Kapnick, who joined New York-based Highbridge in 2007 to run the firm's global credit and private investment platform,will replace Dubin. Kapnick previously worked at Goldman Sachs.
Dubin, who also co-founded Highbridge in 1992, will continue to serve as the firm's chairman. He will also remain "personally invested in Highbridge funds."
With additional offices in Hong Kong and London, Highbridge Capital manages about $26 billion in capital. It is owned by investment giant JPMorgan.