Record Treasury Management, Boston, hired Beth Lehman to replace Wilbur D. Kim as U.S. portfolio director. Mr. Kim resigned to accept a management position with FX Concepts in New York. Ms. Lehman will be responsible for $3 billion in managed assets. Ms. Lehman previously was the assistant executive director for the Minnesota State Board of Investments, St. Paul.
State Street Research & Management, Boston, created new positions for its fixed-income group and its newly formed large-cap value equity team. Mark A. Marinella is senior vice president and portfolio manager for the firm's fixed-income group. Mr. Marinella previously was a principal and senior portfolio manager at STW Fixed Income Management, Hamilton, Bermuda, where his position has not been filled.
Peter A. Zuger was named senior vice president and head of the newly formed large-cap value equity team. Mr. Zuger formerly was vice president and portfolio manager of three mutual funds at American Century Investments, Kansas City, Mo. Philip Davidson, vice president and portfolio manager, who had comanaged the funds with Mr. Zuger, will be sole manager.
Former Assistant Labor Secretary E. Olena Berg will work in some capacity with Financial Engines, Palo Alto, Calif., which offers investment advice to 401(k) plan participants, according to sources. Details were sketchy because Ms. Berg was traveling and could not be reached for comment; Financial Engines officials declined to comment. Sources say her responsibilities have not been worked out, but she'll probably serve on the company's board.
Mary Lou Boutwell was appointed senior vice president at Charlesbank Capital Partners LLC, Boston, formed earlier this month by the management team of Harvard Private Capital Group, the direct private equity and real estate investment unit of Harvard Management Co., Boston. Previously, Ms. Boutwell was a partner and regional director of the asset management group at TA Associates Realty, Boston. A TA Associates spokeswoman said Ms. Boutwell's position has not yet been filled.
Ark Asset Management, New York, named Susan A. Crotty manager of consultant relations replacing Debra Bowan. Ms. Bowman resigned to accept a position with Nicholas-Applegate Capital Management, San Diego. Previously, Ms. Crotty worked at Hamilton & Co. as an investment consultant to pension plans.
Paul P. Baran joined Ivy Management in Boca Raton, Fla., as a U.S. equity portfolio manager, a new position. He joins the firm's U.S. equity team, which oversees the Ivy Growth Fund and the Ivy Growth with Income Fund. Mr. Baran had been senior vice president and chief investment officer of Central Fidelity Bank and managed the MarketWatch Equity Fund. Central Fidelity was acquired by Wachovia Bank earlier this year. All investment activities will be centralized at Wachovia in mid-August and Mr. Baran will not be replaced.
Susan B. Levine was appointed managing director and senior investment officer of J.E. Robert Cos.' Asian subsidiary, JER Asia Corp., McLean, Va., a new position at the global real estate investment company. She was previously a director at Emerging Markets Partnership, Washington, and senior vice president at the U.S. government's Overseas Private Investment, where she negotiated project financing in several countries including Cambodia and Russia. No one has yet been named to replace her at Emerging Markets, a spokeswoman said.
