James Hearty was named executive director of the $30 billion Massachusetts Pension Reserves Investment Management Board, Boston. Mr. Hearty replaces Scott Henderson, who resigned after four years as executive director to return to his former employer, the law firm Bingham Dana. Mr. Hearty has been a member of the PRIM board since 1991, most recently as head of the investment committee. He retired last year as managing director and head of public finance at Lehman Brothers.
Cynthia Redman was promoted to treasurer at Loyola University, Chicago, replacing David Meagher, who is now vice president and consultant at DeMarche Associates. Ms. Redman will be responsible for debt and cash management services for the $360 million endowment fund and will assist the retirement allowance committee on investment issues for the school's $260 million defined benefit plan. Eric Jones replaced Ms. Redman as assistant treasurer.
Gary L. Castagna was named CFO of AMCOL International Corp., Arlington Heights, Ill., replacing Paul G. Shelton, who is retiring after 20 years. Mr. Castagna will serve on the $25 million pension plan and $50 million 401(k) plan committees, said Amiel Naiman, benefits plan administrator at AMCOL. Mr. Castagna joined AMCOL in 1990 as an internal auditor and most recently was financial consultant after CHEMDAL Corp., an AMCOL subsidiary at which he was president, was sold to BASF AG. His position as financial consultant will not be filled, said Jennifer Melsheimer, shareholder services coordinator.
Phil Kapler was named executive director of the Minneapolis Police Relief Association, replacing Judith Strobel. Officials at the $400 million defined benefit plan would not comment on Ms. Strobel's plans. Mr. Kapler was assistant state auditor for pension oversight at the Minnesota Office of the State Auditor.
Frank Karpinski was named executive director of the Employees' Retirement System of Rhode Island, Providence. He replaces Joann Flaminio, who resigned in June. Mr. Karpinski was assistant director in charge of finance at the $7 billion system for the past six years.
Albert Hsu was named director of investments for the $1.1 billion foundation of the Ludwig Institute of Cancer Research, New York. He replaces Chris Setten, who joined Goldman Sachs. Mr. Hsu was principal-trust investments for the $9 billion pension fund at Xerox Corp., Stamford, Conn.
Alfonso I. Samper was appointed to a five-year term on the board of trustees of the $37.5 billion Virginia Retirement System, Richmond. Mr. Samper, a director of Evergreen Investment Management, was appointed by Gov. James Gilmore and replaces W. Forrest Matthews, who earlier had been named board chairman.
Thomas J. Hughes was named global COO at Deutsche, a new position overseeing finance, risk management, compliance, legal, human resources, operations and technology functions. He also will chair Deutsche Asset's operating committee. Mr. Hughes, who was managing director and head of the global securities financing group at Merrill Lynch, replaces Mark Gelnaw, who was named COO and head of strategic funds for Deutsche Asset's alternative investment business.
Earlier, Maarten Nederlof was named managing director and global head of pension strategies at Deutsche Asset Management, New York. Previously, he was a managing director in Deutsche Bank's global equity derivatives group.
