Bruce Richards, Chairman & CEO, and Louis Hanover, CIO, together the co-managing Partners of Marathon Asset Management, a leading global credit investment manager, announced several management changes, including one senior departure and five senior promotions.

Andrew Rabinowitz, President and COO of Marathon, will be departing the firm in September to pursue a new opportunity outside of the asset management industry. Mr. Rabinowitz will remain on Marathon's Governance Committee as a senior consultant. "We are thankful to Andrew for his contribution and leadership, having helped build Marathon's strong foundation and success," said Mr. Richards. "We wish Andrew continued success as he takes the next step in his career, and we are grateful that Andrew will continue to contribute to our organization as a member of Marathon's Governance Committee."

Mr. Rabinowitz day-to-day responsibilities have been assumed by Jamie Raboy, Christine Chartouni and Jason Friedman, as described herein. The three individuals, who have a combined 54 years of experience at Marathon, have played instrumental roles in the firm's long-term success and underscore the continuity that has defined Marathon since its inception. Marathon has experienced double-digit AUM growth over the past 5 years and is coming off a record year of fundraising.

Jamie Raboy, currently Chief Risk Officer, Partner, and a 23-year veteran and founding member of Marathon, has been given the additional title of Chief Operating Officer. Mr. Raboy will continue to oversee all risk functions, in addition to the  finance, accounting and technology functions of the firm. Mr. Raboy who earned his undergraduate degree from Columbia University and an M.B.A. from the Massachusetts Institute of Technology, said, "to best serve our clients, our unwavering focus is to deliver strong results while maintaining strict financial and risk controls."

Christine Chartouni, a member of Marathon's Executive Committee, has assumed the duties of Chief Legal Officer in addition to her prior role as Chief Compliance Officer. Ms. Chartouni who joined Marathon in 2004 after working as an attorney at Schulte Roth & Zabel said, "full transparency, the highest level of integrity, and best practices will always be our guidepost." Ms. Chartouni graduated from the College of the Holy Cross and received her J.D. from Fordham Law School.

Jason Friedman, Partner and Head of Corporate Credit Strategy, has been named Global Head of Business Development and will continue to work with our investment teams and investor relationship professionals to proactively engage with our clients, saying "we look forward to structuring and distributing Marathon products that meet our clients' needs and are truly valued-added." Mr. Friedman is one of five permanent voting members of the firm's Investment Committee, chaired by Mr. Richards and Mr. Hanover. Mr. Friedman joined Marathon in 2007 after working in Private Equity for 10 years at JP Morgan Partners. Mr. Friedman earned an undergraduate degree from Duke University and M.B.A. from Harvard University.

Mr. Hanover said, "We are very excited about our future as we are fortunate to have a deep roster of exceptionally talented professionals, combined with experienced leaders that have been working together for decades. Marathon's investment program has never been stronger or more robust."

In addition to the above appointments, Marathon also announced that Wilma Nacion has been named Chief Human Resource Officer, while Reinaldo Ynchaustegui has been promoted to Chief Technology Officer, overseeing all IT and enterprise functions of the firm. Both Ms. Nacion and Mr. Ynchaustegui are members of Marathon's Executive Committee. Scot Pasquale will continue his role as Chief Financial Officer and member of the Executive Committee.