Money Management

Conning recruits head of structured products, promotes director to head of corporate credit research

Conning has recruited one executive and promoted another, confirmed Gabriel Ross, spokesman.

Paul Norris was named managing director, head of structured products. The position is new. He will lead a team of traders and analysts and will be responsible for overseeing all research, investment and trading in structured securities for Conning in the U.S. He will report to Len Carlson, managing director.

Mr. Norris was a portfolio manager for a mortgage hedge fund at Mariner Investment Group. It could not be learned if he was replaced; a Mariner spokesman could not be immediately reached for comment.

In addition, Matthew Daly was promoted to managing director, head of corporate credit research at Conning. He replaces Joe Mayo, who has chosen to take a part-time role as a credit analyst.

Mr. Daly will oversee the company's corporate credit research team and report to Mr. Carlson.

Mr. Daly was a director, credit research at Conning. His previous responsibilities will be redistributed among the credit team.

Conning had more than $115 billion in assets under management as of June 30.