H. Craig Slaughter, executive director of the West Virginia Investment Management Board, Charleston, will keep his job after all. The board, which runs $6.5 billion in pension and state operating money, voted to retain Mr. Slaughter in the job. Trustees made the decision at a special meeting after Administration Secretary Joe Markus accepted but then backed down from taking the job because of a potential conflict of interests over the state's sale of pension obligation bonds.
Mark Albertson and Lou Jug were named to the new positions of portfolio managers for the $160 billion California Public Employees' Retirement System's $7.4 billion real estate portfolio.
Mr. Albertson, previously managing director of AEW Capital Management LP, Boston, will oversee the fund's $2 billion-plus specialized real estate program, which is expected to double in the next few years. Mr. Jug, previously principal investment officer for the fund's $1.1 billion industrial real estate portfolio, will oversee the $5 billion-plus core real estate portfolio. Both will report to Guy Jaquier, CalPERS senior investment officer for real estate.
Joan M. Caine was appointed deputy general treasurer for finance for Rhode Island by Paul J. Tavares, treasurer. She will oversee treasury functions such as cash management, investment of the state's $6.6 billion in pension and general funds, and management of the state's debt. She replaces James Thorsen, who left in January to join State Street Bank, Boston.
She had been manager of credit research for ICMA Retirement Corp., Washington.
Linda Herman joined the Montgomery County Employees' Retirement System, Rockville, Md., as senior investment officer. She replaces Patrick Bell, who was named director of pension investments at the $1.8 billion fund. Ms. Herman was director of retirement and investments at the $500 million Washington Suburban Sanitary Commission, Laurel, Md., where she has not yet been replaced.
Joseph Connarton was appointed executive director of the Massachusetts Public Employee Retirement Administration Commission, Somerville, Mass., replacing Robert Stalnaker, who resigned in June. Mr. Connarton previously was deputy of PERAC's disability unit and has served on the City of Cambridge retirement board. PERAC oversees the state's 107 public pension systems, including the $27 billion Pension Reserves Investment Management Board, Boston.
Steven Bell was named global chief economist for Deutsche Asset Management, London. He previously was chief U.K. economist at Deutsche Bank's global markets division.
In the newly created post, Mr. Bell will, among other duties, be a senior member of the investment policy committee, a fund director involved with client relations, a member of the strategic advisory committee and a spokesman for Deutsche Asset Management.
Hans-Henning T"nsmann was appointed head of global custody services for Deutsche Bank AG. He is based in Frankfurt and will continue in his role as European regional manager for Global Institutional Services. Mr. T"nsmann replaces Roger Booth, who was based in London and has resigned from the bank.
Phillip Lord, Kevin Hardy and Roberto Angelucci joined State Street Global Advisors as investment managers for the London index management team. They will be responsible for beefing up the group's index business in Europe.
Mr. Lord, senior investment manager, previously was a quantitative consultant for Themis Investment Management. Mr. Hardy previously worked at Legal & General Investment Management Ltd., London, where he managed global index funds. Mr. Angelucci previously managed U.K. passive funds for INVESCO Asset Management Ltd., London. Both were appointed investment managers.
Barry S. Gladstein was promoted to vice president and business manager for the equity department at Delaware Investment Advisers, Philadelphia. He will help manage day-to-day operations of the firm, which has $48 billion under management, and the domestic equity investment team. He joined Delaware in 1985.
Andrew Graham was appointed senior vice president and portfolio manager for Putnam Investments Inc., Boston. He will manage international small-cap equities.
Mr. Graham previously managed Japanese equities for Scottish Widows Investment Management Ltd., Edinburgh. It is likely he will not be replaced because of the company's merger with Hill Samuel Asset Management later this year, said a Scottish Widows spokesman.
Cornelia L. Kiley was appointed to the new position of head of marketing for Lend Lease Real Estate Investments, Atlanta. She was managing director for global asset management at Chase Manhattan Bank, New York, where she was replaced by Lucinda Gerhard, who had been responsible for retail marketing at Chase and now will add institutional marketing to her duties, said a Chase spokesman.
Michael S. Sutton joined Pilgrim Baxter & Associates Ltd., Wayne, Pa., as a portfolio manager, expanding the large-cap growth team. He had managed midcap and large-cap growth portfolios for institutional investors at Loomis Sayles. Loomis Sayles officials didn't return calls by press time regarding his replacement.
Paul Young was appointed portfolio manager, a new position, at Prudential Timber Investments Inc., Boston. He will oversee commingled accounts, client relations and new business. Mr. Young previously was manager of consultant relations at Hancock Timber Resource Group, Boston. He has not yet been replaced, said Robert Sundmacher, a spokesman for Hancock.
Amanda Whitbread was appointed head of client service for pooled funds at Morley Fund Management Ltd., London. She had worked for Schroders PLC, London, where she was a fund manager in pooled funds.
Ms. Whitbread has not been replaced at Schroders and her responsibilities have been reassigned, said a Schroders spokesman.
Steven Lew joined Driehaus Capital Management Inc., Chicago, as an analyst. Mr. Lew will focus on technology stocks in Asia.
Kevin Smith was named an investment director at Standard Life Investments Ltd., Edinburgh. His duties will include exploring global business development opportunities with particular emphasis on the Far East as well as investigating the possibility of opening a Standard Life office in Singapore.
Mr. Smith was head of global desk at Foreign & Colonial Management Ltd., London. He will be replaced by Atul Patel, a senior fund manager who ran the global desk until Mr. Smith took over the position two years ago, said David Manning, F&C head of global equities and deputy chief investment officer.
John Rogers was appointed director of the National Association of Pension Funds' voting issues service. The position is new and is designed to improve the London-based NAPF's corporate governance activities.
Mr. Rogers previously was director of NAPF's investment services. David Gould, formerly the association's manager of investment services, will replace Mr. Rogers.
Kristian Nammack joined Hotchkis and Wiley, Los Angeles, as a product specialist and managing director.
In this new position, Mr. Nammack will be marketing value investing to institutional investors outside the United States.
He had been a global asset adviser in the institutional asset management department of New York-based Sanford C. Bernstein & Co. Inc.