Cerberus Capital Management appointed Matt Zames president of Cerberus and promoted Frank Bruno and Lee Millstein to co-CEO of Cerberus and president of the firm’s international business, respectively.
Zames has more than 20 years of experience in leadership positions across financial services. He most recently worked at JPMorgan Chase as chief operating officer from 2012 to 2017 and chief investment officer from 2012 to 2013. Before joining JPMorgan, Zames worked at Credit Suisse as co-head of Global Dollar Interest Rate Trading. He is a former member and chairman of the U.S. Treasury Department’s Treasury Borrowing Advisory Committee and a former member of the Federal Reserve Bank of New York’s Treasury Market Practices Group.
A 20-year veteran of Cerberus, Bruno will continue to work closely with Steve Feinberg, founder, co-CEO and chief investment officer, to oversee and manage Cerberus’s global investment activities across asset classes, sectors and geographies. He was previously responsible for managing the firm’s European, Asian and Latin American businesses, as well as its global activities in the financial services industry.
An 11-year veteran of Cerberus, Millstein will assume responsibility of managing the firm’s international business, in addition to his role as global head of Real Estate.
“Cerberus has always focused heavily on operationally-oriented investing. Matt is a world-class operating executive and we are thrilled to welcome him to the Cerberus family,” Feinberg said. “The promotions of Frank and Lee recognize their years of dedication and the strong results that they have helped us deliver for our investors.”