MONEY MANAGEMENT

Macquarie selects senior vice president for transition management unit

Kevin Byrne was named senior vice president of Macquarie Portfolio Solutions, the transition management business of Macquarie Group.

The position is new, according to a Macquarie spokesman. He will report to Fred Fogg, director and head of Macquarie Portfolio Solutions. Mr. Byrne's hiring “is a senior addition to the team and part of a broader effort to expand and strengthen the capabilities of Macquarie's transition management platform,” the spokesman said.

Mr. Byrne's appointment comes after the departure of Lance Vegna, who had been director and co-head of portfolio solutions with Mr. Fogg. In March, Mr. Vegna was named managing director and global head of portfolio solutions at Cantor Fitzgerald.

The Macquarie spokesman would not comment on whether Mr. Byrne's hiring was connected to Mr. Vegna's departure

Mr. Byrne was senior vice president at Loop Capital Markets. An executive at Loop Capital would not comment on Mr. Byrne's replacement.