(Reuters) – Cerberus Capital Management LP said on Monday Matt Zames was stepping down as president of the private equity firm and chairman of Cerberus Technology Solutions (CTS).
A former chief operating officer at JPMorgan Chase & Co, Zames was instrumental in the establishment of CTS, a subsidiary of Cerberus that is focused on the application of technology and advanced analytics for businesses.
Zames, who joined Cerberus in 2018 after a 13-year-long stint at JPM, oversaw all of Cerberus’ investments in the financial services industry and supervised the building of its proprietary technology, data as well as artificial intelligence capabilities.
Cerberus did not say when Zames was leaving.
Reporting by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli