John Day was named interim executive director of the Teachers' Retirement System of Illinois, Springfield, replacing Robert Daniels who previously announced his plans to retire. Mr. Day will continue to perform his duties as director of government affairs at the system.
Horace Elkins, administrator of the $600 million City of Baton Rouge & Parish of East Baton Rouge (La.) Employees' Retirement System, retired after 25 years with the city. He has been replaced by Jeff Yates, who has been serving as assistant administrator, a position that has not yet been filled.
Gary Brazgel will become executive director of the $240 million City of Milwaukee Deferred Compensation Board Sept. 15.
He replaces Mark Gilbert, who was with the plan for 11 months. Mr. Gilbert decided not to relocate from his Illinois home, said Donna Drazkowski, program assistant. Residency within the state is a requirement for the position.
Mr. Brazgel was chairman of the city's pension board and worked in the police department. He has yet to be replaced on the board.
Hasan Abdat left his post as investment strategist at IBM Retirement Funds Europe to become fixed-income product manager at Fleming Investment Management Ltd., London, a new position. IBM officials did not respond to inquiries.
Jack McGowan, Christopher Steward and Christopher Thompson joined Putnam Investments in Boston, as portfolio advisers responsible for communicating investment strategy and performance results to clients.
Mr. McGowan was a fixed-income portfolio manager with General Motors Investment Management Corp., New York, where he was replaced by John Stevens. Mr. Stevens was on the fixed-income research team at BlackRock Financial Management Inc., New York. At Putnam, Mr. McGowan will be an adviser for the U.S. investment-grade fixed-income group.
Mr. Steward was a portfolio manager for the global fixed-income group at Scudder, Stevens & Clark, New York, where he has yet to be replaced. He will be a portfolio adviser in the global fixed-income group.
Mr. Thompson managed U.S. stock and convertible bond portfolios at BEA Associates, New York. His replacement is still being sought. He will be an adviser in Putnam's core-growth equity group.
Joseph Trainor was hired as a managing director and senior vice president at MFS Institutional Advisors, Boston. He will be responsible for development of overall new product strategy and will assist in the firm's expansion in international markets. Mr. Trainor will leave his role as chief financial officer of the Brigham & Women's Hospital, Boston, and chief investment officer and deputy treasurer of Partners HealthCare System, Boston.
Peter M. Halloran resigned as director of equities at the Moscow office of Credit Suisse First Boston to form Pharos Capital Management, which will launch a fund for investing in Russian securities.
The new Pharos Russia Fund Ltd. will invest in equities selected by the firm's team of investment specialists based in Moscow. Mr. Halloran said he expects to raise an initial $150 million, principally from institutions and individuals in North America and Europe.
Tom Marsico left Janus, Denver, to pursue other interests. He was manager of the more than $5 billion Janus Twenty Fund and the more than $1.5 billion Growth and Income Fund. Mr. Marsico's intentions are not known.
Janus named Scott Schoelzel as portfolio manager of the Janus Twenty Fund. He relinquished management of the Janus Olympus Fund to Claire Young, a portfolio manager. David Corkins, an assistant portfolio manager for the Janus Mercury Fund, assumed management of Janus Growth and Income.
State Street Global Advisors in Sydney named Lawrence Dryden as fixed-income portfolio manager. Mr. Dryden had been on the Sydney team of Axiom Funds Management, where he was quantitative analyst, capital markets.
Richard Morris is joining Putnam, Lovell & Thornton as managing director, opening its new London office. Mr. Morris, formerly chief financial officer for Cursitor Alliance, will continue to consult to his former firm but has not been replaced.
Adam Schor will join Bee & Associates, Denver, as a portfolio manager, a new position. Mr. Schor was hired to accommodate growth of assets at the firm, said Edward McMillan, Bee executive vice president. He had been portfolio manager with Oakmark International Funds, Chicago, where some of his duties have been assumed by existing staff.
Steven J. Lehman was hired by Federated Investors, Pittsburgh, as vice president and portfolio manager in an expansion of the firm's equity income team. Mr. Lehman will co-manage the $1.5 billion Federated Utility Fund with Linda Duessel and will assist in the management of the Federated Equity Income Portfolio.
Mr. Lehman most recently was manager of the Prairie Equity Income Fund at First Chicago NBD and was a vice president and senior portfolio manager. First Chicago NBD did not return phone calls regarding Mr. Lehman's replacement.
Nancy Kaszak joined Marco Consulting Group as a consultant in the Chicago office. She was an Illinois state representative for two terms and served on the Illinois Labor-Management Cooperation Committee and worked on economic development and industrial retention issues. The addition of Ms. Kaszak brings the number of consultants on staff to eight.