Kathy A. Stover was hired as executive director and secretary to the $3.5 billion City of Milwaukee Employes' Retirement System, taking over for Robert Nehls, who retired. Ms. Stover is an attorney and previously served as a trustee to the Kansas Public Employees' Retirement System, Topeka.
Ruud Hommes was named general manager of the Stichting Pensioenfonds IBM Nederland, Amstelveen, The Netherlands. Mr. Hommes succeeded Hans Janssens, who took early retirement as head of the 4 billion guilder ($1.9 billion) pension fund.
Abel Sithole was named chief executive officer of the Eskom Pension and Provident Fund, Bryanston, South Africa. Mr. Sithole will succeed Japie Lubbe, who left the 13.5 billion rand ($2.7 billion) fund last summer to become a director at R.F. Cadiz & Co. Property.
Currently, Mr. Sithole is assistant general manager of Southern Life Association Ltd., Johannesburg, where he oversees the Mine Workers Provident Fund. He has not been replaced.
Jim Mettling, director of human resources at Standex International Corp., Salem, N.H., assumed oversight of the company's $150 million defined benefit plan. The duties previously had been handled by Thomas DeWitt, executive vice president of administration, who retired at the end of last year.
M. Stephen Soltis joined Bankers Trust, New York, as managing director and head of its newly formed global asset management services group, which integrates investment management, securities lending, performance measurement and risk management, and custody and retirement services.
Mr. Soltis, a managing director, had been chief administrative officer covering technology operations and oversight of the financial group at J.P. Morgan Investment Management Co., New York.
J.P. Morgan also recently reorganized its divisions and combined its investment management and private clients groups into one entity - the Asset Management Services Group. Technology operations for the combined entity are now the responsibility of John Schmidlin. In addition, Joe Regan assumed oversight of the financial group globally. As a result of the reorganization, Mr. Soltis had most recently been involved in examining the firm's technology and operations from a strategic perspective, reporting to Mr. Schmidlin.
Christopher "Kip" Condron, head of the asset management subsidiaries of Mellon Bank Corp., will become president and chief operating officer of Mellon Bank April 1, as part of a new management succession plan. Mellon spokesman Stephen Dishart said other organizational changes are under discussion and it is unknown when Mr. Condron will be replaced as president and chief executive officer of Dreyfus Corp. and vice chairman of The Boston Co.
Frank Cahouet, Mellon's current chairman, president and chief executive, intends to retire at the end of the year. Mr. Cahouet will be replaced by Mellon Vice Chairman Martin McGuinn, who now is head of Mellon's retail financial services. A replacement for Mr. McGuinn has not been announced, nor has the bank designated a replacement for W. Keith Smith, chairman and chief executive officer of the The Boston Co., scheduled to retire at the end of 1998.
Tim Ferguson will take on the new role of head of investments at Putnam Investments, Boston, leading both equity and fixed-income investments. He was head of equity investments. The role of Gary Coburn, former chief of fixed income for the firm, is undetermined at this time.
Also, Thomas Lucey, formerly head of institutional sales, will lead sales and marketing for both institutional and retail. However, William Shiebler will continue as president of Putnam Mutual Funds until he leaves the company in two to three years. The changes will streamline the organization and create "single-line reporting," said Larry Lasser, president and chief executive.
Arthur Zeikel will become chairman of Merrill Lynch Asset Management, New York, after serving as president of the firm for the past 20 years. He will be succeeded as president by Jeffrey M. Peek, who has headed Merrill's global securities research and economics group until last April, when he was named co-head of investment banking.
Also, Michael L. Quinn, head of Merrill's capital management group, will become vice chairman of Merrill Lynch Mercury Asset Management, the institutional money management unit to be formed from the purchase of London's Mercury Asset Management PLC.
John Dolan left Bankers Trust, New York, to serve as chief investment strategist for Hyperion Capital Management Inc., New York. At Bankers, Mr. Dolan handled active mortgage selection. Bankers Trust is now indexing its mortgage exposure as part of a reorganization, said spokeswoman Michelle Bruxvoort.
Jack Marshall and John Wylie will leave Nicholas-Applegate Capital Management, San Diego, at the end of 1998 to start "some type of private money management operation, probably a hedge fund," a spokesman for Nicholas-Applegate said.
Mr. Marshall, chief investment officer of midcap to large-cap equities, developed and heads the "traditional" midcap portfolio management team. Mr. Wylie is director of the retail investment services group.
Mr. Marshall and Mr. Wylie are partners in the firm and will have an economic involvement for several years. Both will maintain their responsibilities and work on a succession plan.
