CIGNA Retirement & Investment Services, Hartford, Conn., hired managers to run portions of the Charter Funds, a new series of 25 institutional funds targeted at the small and midsized 401(k) plan market. Hired were Morgan Stanley, Fiduciary Trust, Berger Associates and Fidelity, as well as other managers CIGNA officials did not name. Callan and Ibbotson annually will review asset allocation and performance of the managers.
Verne O. Sedlacek, executive vice president and CFO of Harvard Management Co., was appointed COO, a new position, at John W. Henry & Co., a futures manager. Mr. Sedlacek's former duties will be divided among three Harvard employees: Judy Murphy, COO; Mike Pradko, chief risk officer; and Jane Mendillo, vice president in trust and external management.
Also, Mark S. Rzepczynski, vice president and director of taxable credit and quantitative research at Fidelity Management and Research, was hired by John Henry as its director of research and trading, also a new position. His replacement at Fidelity is David Murphy, a portfolio manager who now will be director of taxable bond research.