The executives at Pekin Singer Strauss Asset Management have rearranged the limbs of its organizational tree.

The changes involve the five portfolio managers of the firm's Appleseed Fund, as well as a new hire.

In particular, PMs Adam Strauss and Josh Strauss have been named co-CEOs of the firm, while Bill Pekin was named chair.

Meanwhile, Rick Singer and Ron Strauss have transitioned from being PMs of the fund to seeving as senior advisors.

In addition, the firm hired Patrick Herrington to serve as chief operating officer and chief compliance officer.

Previously, Herrington had served as chief operating officer for multi-manager solutions at Northern Trust Asset Management.

According to his Linkedin page, Herrington had managed the operations of that unit for Northern Trust and was a member of the investment committee that approves and monitors the firm's external asset managers.

The firm's previous CCO, Bill Schmidle, will continue as its chief financial officer.

Executives at the firm were unavailable for interview Friday.  

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