Beleaguered Och-Ziff Turns to Steady Hand for CEO to Calm Waters

Robert Shafir, ex-Credit Suisse veteran, known for stability
Turmoil ensued after Dan Och passed over Jimmy Levin for job

Och-Ziff Capital Management Group says Robert Shafir is the incoming CEO. Bloomberg’s Jason Kelly reports.(Source: Bloomberg)

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By Katia Porzecanski

January 30, 2018 at 1:26 PM UTC

Updated on

January 30, 2018 at 6:40 PM UTC

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Dan Och is turning to a steady hand and Wall Street banking veteran to guide his $32 billion hedge fund firm through turbulent times.

The founder of Och-Ziff Capital Management Group LLC named Robert Shafir, an outsider from the banking world, to succeed him as chief executive officer. Shafir, whose resume has decades of managerial experience -- including as former CEO of the Americas for Credit Suisse Group AG -- takes over on Feb. 5. Och will continue as chairman through March 2019, the New York-based firm said in a statement Tuesday.