Jim Lavan was appointed director of the $2.1 billion real estate portfolio at the Public Employees Retirement Association of Colorado, replacing Kim Roberts Moski, who will be a portfolio consultant to the system. Mr. Lavan joined the $30 billion pension fund last year as a senior portfolio manager.
He was vice president of finance at GWL Properties, the real estate unit of Great-West Life Assurance, Englewood, Colo.
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Kirk Stebbins was hired as chief investment officer of the $5 billion Oklahoma Public Employees' Retirement System, Oklahoma City, a new position. He was vice president, institutional fixed-income research for Dain Rauscher, Memphis, Tenn.
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Friedrich Schmitz was appointed head of asset management for Commerzbank AG, Frankfurt am Main, Germany effective March 1.
He succeeds Heinz Hockmann who last year was appointed to the bank's board of managing directors, where he is responsible for asset management.
Mr. Schmitz previously was at Deutsche Bank, where he was a divisional board member responsible for asset management.
He has not been directly replaced, said a Deutsche spokesman.
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Terry Wolfe was appointed managing director at Paloma Partners Management Co., Greenwich, Conn., a new position at the hedge fund, which manages more than $1 billion in assets, primarily in market-neutral strategies. Mr. Wolfe, who was chief investment officer at Howard Hughes Medical Institute, Chevy Chase, Md., said he will focus on the overall strategic direction of the firm and help with client support. Nestor Santiago replaced Mr. Wolfe at Hughes Feb.1.
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Barnard Buscemi was named chief investment officer of ASB Capital Management, Washington, a new position, said a company spokesman. Mr. Buscemi will head the firm's investment policy committee and oversee formulation of investment strategies. He will remain managing director and head of portfolio management and client services.
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Daniel Sigg joined TimesSquare Capital, Hartford, Conn., CIGNA's new institutional investment management unit, as managing director and chief operating officer.
Mr. Sigg came to TimesSquare from Union Bank of Switzerland, where he was a senior managing director, global head of institutional asset management and was responsible for designing and implementing a global asset management organization with offices in Europe, North America and Asia.
Like other senior managers at UBS, after the bank's merger with SBC at the end of 1998, Mr. Sigg left UBS as a formal employee in January 1999, but was retained by the company as a consultant until the end of October 1999.
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Daniel Mulvey was named portfolio manager and short-duration group chairman at Criterion Investment Management Co., Houston. He will oversee the firm's active cash strategy, short-intermediate and liquidity products. Mr. Mulvey was a vice president and senior portfolio manager at New York-based J.P. Morgan Investments.
Mark Pauly and Scott Brecher were hired as high-yield portfolio managers for institutional clients. Mr. Pauly was American General's director of high-yield fixed income and Mr. Brecher was senior investment manager.
A spokesman at American General, Houston, declined to comment on replacements.
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Donald Morgan was promoted to managing director from director in New York-based MacKay-Shields Financial's high-yield group. He replaces Steven Tananbaum, who resigned recently. In his new position, Mr. Morgan will oversee high-yield portfolios for institutional and mutual fund clients.
Larry Abele was hired as senior researcher for Deutsche Asset Management's global asset allocation program, New York. He will be part of a team working to improve the model and processes of Deutsche's global asset allocation strategies and also will develop portable alpha strategies for new Deutsche investment products, based on global equity, bond and currency market valuations. Mr. Abele was a research principal on the global asset allocation team at Barclays Global Investors, San Francisco, where he was replaced by David Vaughn, who was with First Quadrant, location.
In a separate move, Deutsche hired Eva Siekierski as a senior client service representative for corporate clients. She had been vice president of portfolio management at Acorn Derivatives Management, White Plains, N.Y., where she managed options strategies on Treasury bond futures and various global equity indexes. Bill Melvin, a spokesman for Acorn, said Ms. Siekierski's duties have been reassigned internally.
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W. Christopher Cowperthwaite was promoted to senior vice president of corporate development at Nvest Cos. LP, Boston. Mr. Cowperthwaite joined Nvest in 1998 as vice president of corporate development.
