Ryan Israel, an insider, has been named the chief investment officer of William Ackman’s hedge fund Pershing Square Holdings Ltd., the billionaire investor announced on Friday.
Israel transitioned from Goldman Sachs to Pershing in 2009.
Ackman added that he would maintain authority over “ultimate decision making” while continuing in his roles as Pershing’s CEO and portfolio manager.
“If the pie truck were to run me over tomorrow, Ryan would be my choice to manage the portfolio,” added Ackman.
Earlier in March, Ackman, who spent years building his reputation as a vocal corporate agitator, said he plans to work mainly behind the scenes with management and adopt what he calls a “quieter approach” to force change.
Pershing Square, which liquidated a $1.1 billion bet on Netflix in April, also said that it has also fully sold its position in Domino’s as of Aug. 16 this year.