New York-headquartered W P Stewart & Co, the global asset management firm, has named Michael Maquet as chief executive.

Maquet joins other members of the firm’s senior management team, which includes Mark Phelps, president and managing director within global investments, and James Tierney, managing director and chief investment officer. 

The firm had not confirmed who Maquet replaces as CEO at the time of publication.

Maquet was latterly president and CEO of Madison Square Investors, an equity asset management firm he joined in 2009.

W P Stewart has $1.9 billion in assets under management, as at March 31, 2013. Clients with $1 million available to invest are offered direct access to the firm's managed account platform.

The firm has additional operations or affiliates in Europe.