Ronald D. Schmitz was named chief investment officer, a new position, at the Illinois State Board of Investment, Chicago. He formerly was director of benefits financing at Blue Cross and Blue Shield Association, Chicago,
Mr. Schmitz' position at Blue Cross will be filled, but the type of person hired might depend on a restructuring, said Jamey Sharpe, manager of investments. Blue Cross may consolidate some of its investment management functions, he said. Mr. Sharpe is assuming Mr. Schmitz' duties in the interim.
David T. Simpson will oversee the $243 million endowment of the University of the South, Sewanee, Tenn., as vice president of business and community affairs for the school. Mr. Simpson had been director of resource management at the U.S. Military Academy at Westpoint, N.Y.
He replaces Tom Kepple, who left to become president of Juniata College, Huntingdon, Pa.
Steven C. Henderson, Stephen R. McClelland and Kenneth C. Howell joined the Virginia Retirement System, Richmond, as senior investment officers. Messrs. Henderson and McClelland are on the system's fixed-income team. Mr. Howell joined the equity investments group. All are new positions.
Mr. Henderson was previously senior vice president and portfolio manager at the Mentor Investment Group, Richmond. Mr. McClelland was senior vice president and portfolio manager at Mentor Investment Advisors, an affiliate of Mentor Investment Group. Mr. Howell was previously equity mutual fund manager at the Crestar Asset Management, Richmond.
Charles S. Way Jr., James M. Shoemaker Jr., Art Bjontegard, J. William Harper and Blaine Ewing were appointed to the South Carolina Retirement System's State Retirement Systems Investment Panel. The panel, which will be in charge of hiring the $17 billion Columbia-based system's first consultant and money managers. It was created after the Legislature gave the fund approval to invest in domestic equities.
Mr. Way is president of The Beach Co., a real estate development firm; Mr. Shoemaker is a corporate attorney with Wyche, Burgess, Freeman & Parham; Mr. Bjontegard was a vice president in the trust department of South Carolina National Bank; Mr. Harper is vice president of Greenwood Capital Associates, an investment firm; and Mr. Ewing is a vice president with Robinson Humphrey, a stock brokerage. Mr. Way will be chairman.
Michael Barnes declined his appointment by Maryland Gov. Parris Glendening to be interim state comptroller. Deputy Comptroller Robert Swann will take over, and will sit on the State Retirement and Pension System of Maryland's board. Mr. Swann will not necessarily become chairman of the board of trustees, as was former controller Louis Goldstein. Mr. Goldstein died July 3.
Martin 'Sandy' Galt was named president of institutional investment management at the combined BankAmerica Corp., San Francisco, and NationsBank Corp., Charlotte, N.C., which will have five investment management units and about $124 billion in total assets when the bank merger is completed later this year. Mr. Galt now oversees NationsBank's four investment management units.
Joseph M. Vayda was named executive vice president and treasurer of KeyCorp, Cleveland, replacing John Simonson, who resigned. Mr. Vayda was executive vice president and treasurer for Corestates, Philadelphia, where his duties will be assumed by Kenneth R. Stancliff, treasurer of FirstUnion, Corestates' parent.
