TOP OF THE NEWS
John S. Ruey, the No. 2 executive overseeing investment of Chicago-based BP America Inc.'s $5.5 billion pension fund and $7.7 billion defined contribution fund, will retire at the end of the month. Mr. Ruey, manager-trust investments, the Americas, won't be replaced, said Marvin L. Damsma, director-trust investments, the Americas, who heads the staff. Mr. Ruey's duties will be divided among existing staff members.
Mr. Ruey also will retire as treasurer of the BP Foundation. Mr. Damsma said that position will be filled by an existing staffer.
Alexandria Linton was hired as compliance officer by the $7.8 billion Ohio Police & Fire Pension Fund, Columbus. She replaces Melanie Bowling, who left. No additional information was available at press time.
Fred Alger Management Co., New York, is searching for a head of consultant marketing, according to a spokesman for the firm who did not want to be identified. This position is new. Further information was not available.
Denman Zirkle was named CEO of Carret and Co. Inc., a New York money manager with $2 billion under management. Mr. Zirkle had been executive vice president of Franklin-Templeton Institutional, which parent Franklin-Templeton folded into Fiduciary Trust Co. International. He succeeded Howard Chase as CEO, whose current duties are not known.
Keith F. Karlawish was promoted to president and chief investment officer of BB&T Asset Management Inc., Raleigh, N.C. He succeeds David C. McMahon, named corporate economist. Mr. Karlawish had been director of fixed-income management.
Giovanni Beliossi is leaving his post as associate director in charge of European equity market-neutral strategies and head of non-U.S. fund operations at First Quadrant Ltd., London, at the end of the month. Alex Weiland, marketing director, said no replacement has been named and that Mr. Beliossi's duties are being handled temporarily by other staff members. Mr. Beliossi did not elaborate on his plans.
Starwood Capital Group, Greenwich, Conn., hired TMP Executive Search to search for a chief operating officer and head of asset management, said Marty Nass, senior partner and global head of TMP's real estate practice. Jeffrey Rosenthal, former COO at Starwood, resigned to pursue other interests, he said.
Eric T. Smith was hired as senior vice president and portfolio manager of Metropolitan West Capital Management, Newport Beach, Calif. It's a new position. He had been senior vice president and portfolio manager at Banc of America Capital Management.
McDonnell Investment Management LLC, Oak Brook, Ill., is seeking a performance measurement manager, a new position. The person will oversee performance measurement and analysis, including ensuring compliance with the performance presentation standards of the Association for Investment Management and Research and overseeing performance reporting for client portfolios.. McDonnell isn't using an outside recruiter.
Scott Darling was promoted to partner at American Realty Advisors, Glendale, Calif., where he will continue to serve as managing director-portfolio management for the firm's pension fund clients.
David Roth was appointed vice president at Walton Street Capital LLC, a new position at the Chicago-based private equity real estate firm. He will focus on strategies in equity investment and distressed debt. Previously, he was senior vice president at Security Capital Group, responsible for equity stakes in real estate operating companies.
James J. King Jr. was appointed vice president of investment services at New York-based Prudential Retirement Services, a new position. He had been chief portfolio strategist for Merrill Lynch Defined Asset Funds, which was closed by parent Merrill Lynch last year.
Jeffrey M. Ulness joined Deutsche Asset Management in the Americas, New York, as director of the sales to financial institutions group, a new position. Mr. Ulness will oversee sales of Deutsche's asset management products to other money managers, insurers, mutual funds and banks. Mr. Ulness had been vice president-product management at American Skandia Life Assurance Corp., Shelton, Conn., where he served on the investment committee and developed new products.
Paul Runge and Lee Cook, both senior vice presidents, left AIB Govett after the firm closed its San Francisco marketing office, said Senior Vice President Colin Kreidewolf. Mr. Kreidewolf moved to the manager's London headquarters and will continue to serve U.S. clients with Colin Graham, director of portfolio management.
Messrs. Runge and Cook could not be reached to comment on their plans.
Mark Cordone was named vice president and national sales manager of Taft-Hartley services by Berger Financial Group LLC, Denver. He had been vice president of institutional sales and marketing for Prudential Investment Management, Newark, N.J. Mr. Cordone will be based in San Ramon, Calif. Mr. Cordone will market the investment services of INTECH, Palm Beach Gardens, Fla., which Berger purchased in January. About one-third of INTECH's clients are union pension plans.
Therea Miller, a Prudential spokeswoman, said the company hasn't decided whether to replace Mr. Cordone.
Fran M. Coopersmith was named principal at consulting firm Shields Associates. Ms. Coopersmith is opening Shields' West Palm Beach, Fla., office as part of an expansion of the firm, said Ryan L. Murphy, a research associate at Shields. Ms. Coopersmith had been a consultant at Fund Evaluation Group in Cincinnati.