Steven E. Kornrumpf was named permanent director of the New Jersey Division of Investment, Trenton, which oversees $70 billion. As deputy director, Mr. Kornrumpf had been acting director of the division since Roland M. Machold retired earlier this year. He joined the division in 1971.
Mr. Kornrumpf said he doesn't expect to make any near-term changes to the fund and that a decision on who will replace him as deputy director will come from the New Jersey treasury department, as did his appointment.
He will be paid $125,000 and will be eligible for a performance-based bonus of up to 25% of his salary.
Mark A. Caplinger, chief investment officer for the $16.6 billion Public School Retirement System of Missouri, Jefferson City, was hired as chief investment officer for the Teachers' Retirement System of Illinois, Springfield, a new position.
Mr. Caplinger follows Keith Bozarth, Missouri Public School's former assistant executive director, who last month was hired by the $15 billion Illinois Teachers system as executive director.
Mr. Caplinger is expected to begin at Illinois Teachers Nov. 1.
Executives at the Missouri Public School System couldn't be reached by press time.
E. William Butler, former chief operating officer for the Ohio Police and Firemen's Disability and Retirement Fund, Columbus, was named executive director of the $8 billion Indiana Public Employees' Retirement Fund, Indianapolis.
Mr. Butler replaces H. Garth Dickey, who joined Middlewest Ventures, a venture capital firm. Mr. Butler is expected to begin Oct. 16.
Allen Proctor, executive director of the $7.8 billion Ohio Police and Fire Fund, was unavailable for comment on Mr. Butler's replacement.
Jerry Scoby joined Alma College, Alma, Mich., as vice president of finance and will oversee the school's $104 million endowment fund.
He replaces Jon Grotluschen, who retired June 30. Mr. Scoby was assistant vice president for business affairs at Central Michigan University, Mount Pleasant, Mich.
Douglas Atkin was named president and chief executive officer of Instinet Corp., a leading electronic brokerage service in equities for investment professionals, effective Oct. 1.
Mr. Atkin replaces Michael Sanderson, who retired.
Mr. Atkin, who was chief operating officer of Instinet Corp. and chief executive officer of Instinet International, will continue in those positions, while adding his new responsibilities.
C. Jason Psome was hired by Bankers Trust Co., New York, to head a new product management function, focusing on stable-value and fixed-income investments.
Mr. Psome was a managing director at Sanford C. Bernstein & Co., New York, where he helped create the firm's stable value business when he joined in 1993 as director of synthetic GICs. Sanford C. Bernstein's stable assets have grown to $1.5 billion from $100 million in 1994.
Kristine Lino will join Avatar Investors Associates Corp. as vice president-global investments, a new position. She is leaving her position as senior portfolio manager on the global investment team for PanAgora Asset Management Inc., effective Oct. 8. Ms. Lino will work on building Avatar's developed market tactical asset allocation and emerging market strategies.
Ms. Lino's responsibilities at PanAgora will be assumed by the other members of the global investment team.
Jacquelyn M. Johnson was appointed executive director of the Financial Executives Institute's Committee on Investment of Employee Benefit Assets, Washington. She replaces Gina Mitchell, director of government relations, who left some months ago.
Ms. Johnson previously was director of federal government relations at the National Marine Manufacturing Association.
Fidelity Investments, Boston, named portfolio managers and shifted portfolio responsibilities:
Louis Salemy was named portfolio manager of the Fidelity Variable Insurance Products III Growth & Income Portfolio. Mr. Salemy has been the associate manager of the fund and succeeds Steven Kaye, who will concentrate on management of the Fidelity Growth & Income Fund.
Steven J. Buller was named manager of the Fidelity Real Estate Investment Portfolio. Mr. Buller, the fund's associate manager, assumes full responsibility for the fund from Barry Greenfield, who remains chief investment officer for public real estate investments.
Thierry Serero was named manager of the Fidelity Europe Fund and the Fidelity Advisor World Europe Fund. He replaces Sally Walden, who will concentrate on the Fidelity U.K. Growth Fund. He was associate manager of the World Europe Fund.
Portfolio manager Shigeki Makino will get assistance from William J. Kennedy, who was named associate portfolio manager of the Fidelity Pacific Basin Fund. Brenda Reed was named an associate portfolio manager of the Fidelity Japan Fund. Mr. Makino remains the senior manager of both funds.
George Williamson was named senior portfolio manager of the $208 million Salomon Brothers Total Return Fund and its variable annuity counterpart. Mr. Williamson has managed private client and institutional separate accounts at Salomon Brothers Asset Management Inc. since 1989. He replaces Richard Dahlberg, who joined Pioneer Funds, Boston.
Boston-based PanAgora Asset Management hired John Campbell, a professor at Harvard University, as external director of research. He will work with PanAgora research director John Capeci on product development.
Separately, Jarrod Wilcox was appointed director of overseas products and development, a new position. Mr. Wilcox previously was director of research.
Robert Birnbaum joined BEA Associates, New York, as a managing director, where he will be in charge of developing a defined contribution plan business.
BEA will focus on providing only investment services, not bundled services, to defined contribution plans, a spokesman said.
Mr. Birnbaum previously was a managing director at J.P. Morgan Investment Management, New York, where Mark Sheridan has assumed his responsibilities.
Maureen Mitchell was named managing director for Bear Stearns Asset Management Inc., New York. She will be responsible for developing business in the not-for-profit, endowment, foundation, hospital and family markets. Ms. Mitchell previously was a vice president in institutional sales for Scudder Kemper Investments, Boston.
Bear Stearns also named Christopher J. Hannon and James M. Marrone Jr. associate directors for client services. Mr. Hannon will be responsible for clients in the Midwest, while Mr. Marrone will represent clients on the West coast. Mr. Hannon was co-director for sales and marketing in the insurance business market at Hyperion Capital Management Inc.. Mr. Marrone previously was director of marketing in institutional sales at Capital Management Associates Inc.