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(Corrects paragraph 2 to say O'Leary is a portfolio manager for Oaktree's Global Opportunities strategy)
June 27 (Reuters) - Oaktree Capital Management is elevating Robert O'Leary and Armen Panossian, the leaders of two of its businesses to the position of co-chief executive officers, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
O'Leary currently is a portfolio manager for Oaktree's Global Opportunities strategy, leading the group's investment activities in North America, while Panossian is Oaktree's head of performing credit, according to the company's website. The two will replace current CEO Jay Wintrob, who took on the role in 2014.
The U.S.-based credit investment manager is also shaking up the position of chief operating officer, according to the WSJ report, by promoting its chief administrative officer, Todd Molz, to the role.
Oaktree Capital declined to comment on the management changes.
The leadership shake-up comes at a time when Oaktree has been planning expansions, including raising $10 billion for a new fund that will help finance large private equity takeovers, the Financial Times reported in February. (Reporting by Rahat Sandhu in Bengaluru; Editing by Rashmi Aich)