Oak Hill Advisors named its current Chief Operating Officer as its President.

The New York and London-based firm said that William Bohnsack Jr. was promoted to the position of President after serving as COO since 2001. Bohnsack has been a senior partner at the firm since 2005. The move was announced by Oak Hill founder and CEO Glenn August.

Bohnsack joined Oak Hill in 1993 and was promoted to partner in 1999. He has worked as a senior investment professional at the firm investing in distressed debt, head of business development and COO. He cofounded each of the firm’s investment funds.

Oak Hill Advisors has approximately $13 billion in capital under management and focuses in investing in structured products, distressed securities, leveraged loans, high yield bonds, and turnaround investments in the North American and European markets.

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