Watch Live

Tweet TWEET

Wilbur Ross Names Toy, Invesco’s Stoeckle as Co-Leaders of Firm

WL Ross & Co., the $9 billion investment firm run by Wilbur Ross, named Stephen Toy and Greg Stoeckle co-leaders, to further develop a second generation of management.

Ross, 76, who started the New York-based distressed investment firm in 2000 after a career advising troubled companies, will remain chairman and chief strategy officer, WL Ross said in a statement today.

Stoeckle, 49, joins from Invesco Ltd., a money manager that acquired WL Ross in 2006. He had been president and managing director of Invesco’s $27 billion bank-loan unit. Toy, 41, a managing director and chairman of the investment committee, has been at WL Ross since inception.

“With Stephen leading the investment side of our business and Greg in charge of all the other aspects, I will now have more time to devote to developing and implementing the macro strategies that have always been central to our portfolio decisions,” Ross said in the statement.

To contact the reporter on this story: David Carey in New York at dcarey13@bloomberg.net

To contact the editors responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net Pierre Paulden

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.