Wolfgruber, currently the company’s senior investment officer and director of domestic equities, assumed the new responsibilities immediately, Oppenheimer said. The company manages assets of more than $120 billion.
Wolfgruber succeeds Leonard Darling, who will continue as vice chairman until his June 30 retirement. Darling had served as chief investment officer since June 1999.
Wolfgruber will direct OppenheimerFunds’ investment group and exercise oversight of the investment management processes. Wolfgruber had been responsible for the investment process of some $50 billion in assets managed by OppenheimerFunds’s domestic equity portfolio teams. He started with the company in April 2000.