Douglas Kramer Named CEO of Horizon Asset Management

(Reuters) – U.S. private investment firm Horizon Asset Management Inc named Douglas Kramer, a former partner at Goldman Sachs (GS.N), as chief executive.

“Doug will oversee all of our firm’s non-investment functions and its strategic business development,” Horizon Chairman Murray Stahl wrote in a letter to clients on Wednesday.

Kramer, who left New York-based private equity firm Quadrangle Capital Partners last year, will join former Goldman colleague Hugh Ross, who was hired as Horizon’s chief operating officer in April 2009.

New York-based Horizon has over $7 billion of assets under management, according to its website. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Lincoln Feast)