Octagon Credit Investors, the New York-based investment manager overseeing $35 billion in assets, is getting a new chief executive officer in Gretchen Lam, as co-founder Gordon Lam prepares to step into a new role at the firm, the company announced on Tuesday.
Lam is currently a senior portfolio manager, and she will take over as CEO on January 1, 2024, Octagon said. As CEO, Lam will oversee Octagon's business strategy and lead the firm in its next phase of growth.
Lam succeeds Andrew Gordon, who will assume the role of executive chair of the board of managers. In this role Gordon will support Octagon business growth and oversee the leadership transition, the company said.
Both executive moves coincide with Generali Group's plans to acquire CHL, a deal that will include Conning, Octagon and other affiliates.
At Octagon's major shareholder, Conning, Gordon will also stay on as a member of its investment committee and its operating committee, the company said.
Lam joined the firm in 1999, and oversees the firm's structured credit investment strategies. As a portfolio manager she managed 12 collateralized loan obligations (CLOs), three separate accounts and five commingled funds. Lam oversees Octagon's CLO tranche investments, which she started in 2014 and has since grown to more than $2.5 billion in assets under management.
"This is a well-earned promotion and I couldn't be more excited for her," Gordon said. "Gretchen possesses the right balance of intelligence, experience, and temperament to lead Octagon in the years ahead."
