BOSTON, July 11 Och-Ziff Capital Management
, one of only a handful of publicly traded hedge fund
firms, hired securities lawyer David Becker as its new chief
legal and chief compliance officer to replace Jeff Blockinger,
who will be leaving the firm.
Becker, 67, brings public and private sector experience to
the position, joining Och-Ziff from law firm Cleary Gottlieb
Steen & Hamilton where he was a partner and having previously
worked as General Counsel for the U.S. Securities and Exchange
Commission. He starts the job on Monday.
"We are delighted to welcome an attorney of David's caliber
and experience to the Och-Ziff management team," the firm said
in a statement.
Och-Ziff invests $45.5 billion for wealthy clients including
pension funds and foreign governments and is currently being
probed by the SEC and Justice Department about investments some
of its funds have made in Africa.
Blockinger, 44, will be staying on as a senior adviser at
the firm where he has worked for 10 years. He expects to retire
in June 2015. His departure is not related to the government's
investigation, a person familiar with the firm said.
"We thank Jeff for his significant contributions over the
past decade and are pleased that he will remain with the Firm as
an Executive Managing Director and Senior Legal Advisor through
June 2015 to ensure a smooth transition," the firm's statement
During the first half of 2014, Och-Ziff's funds have had a
mixed performance with the OZ Master fund gaining 2.02 percent
while the OZ Asia Master Fund lost 6.66 percent. The company's
stock price has lost 12 percent since January but has gained
17.69 percent over the last 52 weeks.
(Reporting by Svea Herbst-Bayliss; Editing by Meredith