Wallace named GM of Grizzlies

"This is a great day for the Wallace family, and we are excited to become Memphians," said Wallace. "We are eager to begin our work on the ultimate goal of bringing an NBA championship to this very deserving city."

Wallace has spent the last 10 seasons as the general manager of the Boston Celtics and will take over in Memphis for the retiring Jerry West.

"I am delighted that Chris accepted the offer to join the Grizzlies as vice president and general manager," said West. "I have the utmost confidence in him and respect for him, and know he will lead this franchise to continued success and growth. He comes to Memphis with terrific credentials and an outstanding work ethic, not to mention being highly respected in the American and international basketball community. Chris will assume his duties as of today, and I look forward to advising and consulting him during the two-week transition."

West’s contract expires July 1. He is expected to remain with the organization as a consultant.

Before joining Boston, Wallace was the director of player personnel for the Miami Heat.

"I have worked in the NBA since 1986 and have been fortunate to serve with and under some very accomplished executives like Bucky Buckwalter, Billy Cunningham, the Heat’s duo of Pat Riley and Randy Pfund, Danny Ainge and the late, great Red Auerbach," added Wallace. "Now to have the opportunity to work with Jerry West through the transition process is something that I will treasure and greatly benefit from."

The hiring of Wallace is the second major offseason move for the Grizzlies, who named Marc Iavaroni as the team’s new head coach on May 31.