A couple of years ago, Dan Och began to feel that the former waterskiing instructor he’d plucked from obscurity and groomed to take over his namesake hedge fund had gotten a bit ungrateful (and, frankly, greedy) amidst an African bribery scandal existential crisis for the firm. So Och decided that Jimmy Levin would never become CEO of Och-Ziff Capital Management. And, indeed, Levin never did become CEO of Och-Ziff, because the guy who did become CEO of Och-Ziff, Robert Shafir, made sure he would be the last CEO of Och-Ziff, since the second Och was out the door Och-Ziff stopped being Och-Ziff. And so, next year, Jimmy Levin will become CEO of Not Och-Ziff Capital Management Anymore. Way to get the last laugh, Danny.

Sculptor Capital Management said on Wednesday that Chief Investment Officer James Levin will become chief executive officer… on April 1…. Levin, who joined Sculptor in 2006, had been slated to take over the helm in 2018, but Och suddenly changed his mind around Christmas 2017 to reassert control…. As CIO Levin is responsible for the SCU Credit Opportunities fund… which… had a rocky start to the year with double-digit losses….

Hedge fund Sculptor picks Levin as CEO after stalled succession plan [Reuters]