May 3, 2002
TOP O' THE NEWS
A chief investment officer with a minimum 25 years of experience in investment management is being sought O oversee $1.5 billion for the man who created the Mighty Morphin' Power Rangers.
Saban Entertainment Inc., Beverly Hills, Calif., was set up as a new family office for entertainment mogul Haim Saban. The CIO will report to Mr. Saban, who started the endeavor with proceeds from the sale of Fox Family Entertainment with co-owner News Corp. to The Walt Disney Co.
The CIO must have extensive experience in investment policy, portfolio construction, multiple asset classes, manager selection and monitoring, risk management and budgeting, as well as hiring, training and supervision of investment research and portfolio management staff. The successful candidate also will have oversight of private equity activities. A desirable qualification is at least 10 years of experience in a major pension consulting company and a 10-year track record of managing external managers.
The CIO initially will be assisted by one or two support staff, which will be expanded as some investment activities are added.
Executive recruiter George Wilbanks of Russell Reynolds, New York, is conducting the search.
The Louisiana State Employees' Retirement System, Baton Rouge, is searching for an executive director to replace Glenda Chambers, who is leaving in July to become executive director of the National Association of State Retirement Administrators. The $6.1 billion system is doing the search internally and hopes to have a new executive director by the end of summer, said Sue Ellen Lewis, a LASERS spokeswoman.
Kevin Sigrist, assistant chief of economics at the $125 billion Florida State Board of Administration, Tallahassee, is the leading candidate to head up the state's new defined contribution plan. Mr. Sigrist is expected to be named to the position in time for the June 1 rollout of the plan.
Phillip Kapler was named executive director of the $830 million St. Paul (Minn.) Teachers' Retirement System. He replaces Gene Waschbusch, who will retire June 1. Mr. Kapler had been executive director of the $350 million pension fund of the Minneapolis Police Relief Association. Rene Tessier, office manager with the Minneapolis association, will replace him. Mr. Kapler said his first priority will be to pursue the possible consolidation of the St. Paul, Minneapolis and Duluth teachers' pension funds.
Ken Ayers is the new chairman of the investment council at the U.K.'s National Association of Pension Funds.
He had been vice chairman, and is taking the reins from Alan Rubenstein, head of the European pension group at Morgan Stanley, London. Under NAPF rules the chairman serves only a single two-year term. The appointment will be formally approved at the NAPF's Annual Congress in Brighton, England.
Nicholas A. Lopardo, ex-CEO of State Street Global Advisors, launched Susquehanna Capital Management, a North Reading, Mass., private equity firm with a portfolio of operating companies in the retail, services and technology sectors. The new firm has the same name as Mr. Lopardo's alma mater, Susquehanna University. Mr. Lopardo retired from SSgA last year after serving 14 years as CEO.
Randall K. Zeller and John L. Schaefer joined Asset Allocation & Management Co., Chicago, as president and chief investment officer, respectively, both new positions. Mr. Zeller was a managing director at Zurich Scudder Investments and head of the North American fixed-income group. Mr. Schaefer was a managing director at Zurich Scudder overseeing portfolio management for affiliated and non-affiliated insurance clients. They left after Deutsche Bank acquired Zurich Scudder.
Christopher Keating joined Fidelity Management Trust, Boston, as executive vice president for sales, client service and consultant relations. He replaces Michael Forrester, who remains with Fidelity and is seeking other opportunities at the firm, said Vin Lopochio, Fidelity spokesman. Mr. Keating had been managing director responsible for consultant relations at Deutsche Asset Management. He was replaced there by Amy Lesch.
Michael Hotchkiss was named a director by Citigroup Asset Management, New York, and will focus on domestic financial institutions. He had spent eight years at Putnam Investments, Boston, where he most recently focused on marketing to banks and insurers. Also, Mike Quigley joined Citigroup as a director to focus on Canadian pension fund marketing as well as U.S. power and energy companies. He managed client relations for several of New York-based Alliance Bernstein's largest Canadian institutional investors. Both positions are new, part of a reorganization that split the institutional sales force into two groups - public funds and corporate plans - with corporate marketers narrowing their focus to specific industry sectors.
Douglas H. Gilbert was named managing director at Winston Partners, McLean, Va., a private equity investment firm with more than $720 million in assets under management. It is a new position. Mr. Gilbert previously was managing director at Thayer Capital Partners, a Washington private equity investment firm
Elizabeth Pasciucco was named senior vice president, director of marketing and communications for Putnam Investments, Boston. This is a new position, created when Putnam combined its defined contribution and defined benefit plan business. Ms. Pasciucco had been in a similar position at Fidelity Investments, where members of the firm's retail marketing services division assumed her duties. One of her first efforts will be a "Putnam Listens" web campaign for defined contribution participants serviced by Putnam.
Philip Nash was named European marketing director, a new London-based position, by Dimensional Fund Advisors, Santa Monica, Calif. Mr. Nash will focus on institutional clients in the United Kingdom, Europe and Middle East. He was a director at Barclays Global Investors, where he most recently managed the client service team for Western Europe.
FrontPoint Partners hired investment teams to launch two hedge funds. A quantitative equity arbitrage fund will be managed by Stuart Bohart, Michael Gray and Thomas Felgner. Mr. Bohart had been a managing director at Morgan Stanley, responsible for risk management in the firm's prime brokerage and stock loan business. Mr. Gray oversaw research and execution for several market-neutral and enhanced equity strategies at BGI. Mr. Felgner had been a member of the convertible bond arbitrage team at Banc of America Securities. A Canadian distressed securities fund will be managed by Newton Glassman, former managing director at New York-based Cerberus Capital Management, and Brian Budden, a Toronto attorney.
Leon E. Richardson joined Chicago Equity Partners as director of West Coast public fund sales, a new position and part of a new focus on this part of the institutional marketplace. Mr. Richardson was director of institutional sales at Calamos Asset Management. Spokesman Bruce Ennis did not return calls regarding a replacement.
Tom W. Perlmutter was named principal at Behrman Capital, a new position at the New York private equity firm. Mr. Perlmutter will focus on LBO opportunities in business services and information technology. He had been vice president at Desai Capital Management, New York, focusing on growth companies. No replacement has been named.
William B. Madden joined Frank Russell Co. as a senior consultant, where he will open an office in Barrington, Ill., a suburb of Chicago. Mr. Madden was a principal at Ennis Knupp & Associates, Chicago. Mr. Madden's mainly corporate clients will be reassigned to other senior Ennis consultants and he will not be directly replaced.
Brian Henderson joined U.K. consultant Hymans Robertson, Glasgow, as head of product development and marketing, a new role. He had been executive director at the WM Co., in charge of investment manager analysis; he will not be replaced.
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