University and Community College System of Nevada, Reno, hired Navellier to run a $10 million small-cap value portfolio, said Tim Ortez, director of banking and investments for the $217 million system. The money had been managed in a large-cap value equity portfolio by Anderson Hoagland, which was terminated. Cambridge assisted.
William F. Heitman, vice president-asset management at Bell Atlantic Corp., assumed responsibility for the $51 billion in pension assets resulting from the 1997 merger of Bell Atlantic and NYNEX Corp. This follows the dismissal of Candace Cox, former president and CIO at Bell Atlantic Asset Management, who reported to Mr. Heitman.
David Frail, Bell Atlantic spokesman, said Mr. Heitman will assume Ms. Cox's duties and those of Thomas Cowhey, former president of Bell Atlantic Credit. Mr. Cowhey also reported to Mr. Heitman and, like Ms. Cox, was terminated in a corporate restructuring