Stack quits as Chicago fund chief
James Stack, the executive director of the Municipal Employees' Annuity and Benefit Fund of Chicago, resigned, citing health reasons within his family, said James Mohler, senior investment manager for the $4.5 billion fund.
Thomas Stack, a former executive director for the fund and no relation to James Stack, took over the position for the interim.
The board likely will meet soon to discuss the search for James Stack's replacement, Mr. Mohler said.
Barbara Avard joined the $190 million Charlotte (N.C.) Firefighters Retirement System as administrator. She replaces Merle Wilkins, who left in June. Ms. Avard had been director of finance for the city of East Hartford, Conn., where she oversaw the $150 million pension fund. Her replacement is still being sought.
Michael C. Henkel was named president of consulting firm Ibbotson Associates Inc., Chicago, taking over for founder Roger Ibbotson, who will continue as chairman of the firm. Previously, Mr. Henkel was a managing director.
American General Corp., Houston, will elect Richard W. Scott executive vice president and chief investment officer after the completion of American General's acquisition of Western National Corp., Houston, expected to be early next year.
Mr. Scott, currently vice chairman, general counsel and chief investment officer of Western National, will succeed Peter V. Tuters as American General's chief investment officer, and will have responsibility for the company's portfolio of invested assets. Mr. Tuters will continue to serve as senior vice president-investments, with responsibility for investment trading and portfolio management.
American General also named Julia S. Tucker as senior vice president-investments. In addition to her current responsibilities for research and private placements, she is responsible for American General's mortgage lending operations.
NationsBank, Charlotte, N.C., named Holly D. Deem president of TradeStreet Investment Associates Inc., also in Charlotte. Most recently managing director client services, Ms. Deem has been with TradeStreet since its inception. Before that, she was vice president and director of institutional asset management for NationsBank Investment Management.
Deborah Hicks Medanek was named a principal in the New York office of Jay Alix & Associates, based in Southfield, Mich. Ms. Medanek, who specializes in financial restructuring and operating turnarounds, was co-founder of Solan Asset Management LP. The firm was recently acquired by Turner Investment Partners of Berwyn, Pa.
Roy McAlpine, chairman of Liberty Asset Management Ltd. (Libam) and GuardBank Management Corp. Ltd., both of Braamfontein, South Africa, announced he will retire on March 31 to "pursue a more relaxed and diversified lifestyle."
Libam and GuardBank are wholly-owned subsidiaries of Liberty Life Holdings Ltd., South Africa's third-largest life insurance corporation.
Mr. McAlpine's post will not be filled. Roy Andersen, the group chief executive of Liberty Life, will become non-executive chairman of Libam and GuardBank. Gavin Main will continue as general manager of GuardBank and Sidney Place will continue as managing director of Libam.
Donald Shute joined Bear Stearns Asset Management, New York, as an associate director and portfolio manager specializing in emerging-market debt and global fixed income, a new position. He had managed international and emerging-market debt portfolios at Chancellor LGT Asset Management, New York.
Bill Newman replaced Michael Arends as portfolio manager of the Phoenix Duff & Phelps Aggressive Growth and Equity Opportunities funds. Mr. Newman, based in the company's Hartford, Conn., office, is chief investment strategist. He also directs the small- and midcap equity investment teams at Phoenix Duff & Phelps.
Theresa Hamacher joined Pioneer Group Inc., Boston, as senior vice president-U.S. equities, a new position. She will oversee Pioneer's 11 domestic equity funds, which have total assets of about $16.5 billion.
Last year Ms. Hamacher left Prudential Mutual Funds and Annuities, Short Hills, N.J., where she was chief investment officer. She was replaced by Mendel Melzer.
Michael Even was appointed managing director and chief of global equity quantitative analysis for Citibank Global Asset Management, New York, a new position.
Mr. Even had been executive vice president and director of quantitative research at Independence Investment Associates Inc., Boston, where his duties have been assumed internally.
Deborah H. Miller, formerly with Batterymarch Financial Management Inc., Boston, joined Santander Global Advisors, Boston, as head of quantitative research, a new position. She will be responsible for all aspects of quantitative research, especially the development of stock selection models.
At Batterymarch, she was responsible for creating and managing the value models for all developed international equity markets and was a senior portfolio manager. Her position there has not yet been filled.
Keith Quinton has been hired as the head of U.S. equity research for Santander Global Advisors Inc. of Boston. He will be responsible for all research in domestic equity, especially the development of quantitative stock selection models. Mr. Quinton formerly was with Putnam Investments of Boston, where he created and managed risk and valuation models for global equity products.