TOP OF THE HEAP
American Express Financial Corp., Minneapolis, is searching for a head of domestic fixed income to replace Fred Quirsfeld, who retired, said Terri L. Dresen, a spokeswoman.
Once the new fixed-income leader is in place, AmEx may review the operation with an eye toward expansion, Ms. Dresen said, similar to its recent reorganization of its U.S. equity operations. American Express expanded its regional offices in New York, Boston and San Diego and seeks a Minneapolis-based head of equity investment, a chief administrative officer and between eight and 12 analysts and portfolio managers.
Ms. Dresen said American Express is reviewing both marketing staff and technology enhancements to support its expanded money management operations. Increases in both people and technology services are possible, she said.
Oscar Peters will retire as general manager of the $.7 billion Los Angeles City Employees' Retirement System as soon as a replacement is named. The board has hired E.F.L. Associates to conduct a nationwide search. No timetable has been set for the search. Those interested in applying should contact E.F.L.
Jerry Clark left the $46 billion Pennsylvania Public School Employees' Retirement System, Harrisburg, where he managed a $400 million REIT portfolio, to join RAIT Investment Trust, Philadelphia, as managing director and senior portfolio manager, a new position. His portfolio at the pension fund is being liquidated, and he won't be replaced, said Jim Grossman, acting chief investment officer.
Alfonso "Al" Samper was appointed chairman of the board of trustees of the $36.5 billion Virginia Retirement System, Richmond, by Gov. Mark R. Warner. He replaced Elise L. Emanuel, whose term expired in February. Mr. Samper, a senior vice president at Wachovia Securities, was appointed to the board last year.
Brian O'Toole was hired by Putnam Investments as chief investment officer of large-cap growth equities. He replaces Beth Cotner, who earlier had announced she will retire at year end. Mr. O'Toole was managing director and head of U.S. growth equities at Citigroup Asset Management, where he was replaced by Brian Rutledge, a member of Mr. O'Toole's large-cap growth team.
Perry A. Lerner was named chief executive officer of EIM USA, New York, which runs hedge funds of funds for U.S. institutional investors. He had been a managing director at Crown Capital Group Inc., a private investment firm; no information was available on his replacement there.
Thad Fletcher was named a principal at Cooke & Bieler, Philadelphia. He will focus on marketing the firm's value equity portfolios to public funds. Mr. Fletcher had been a principal at Columbia Partners, responsible for client service. Mr. Fletcher has not yet been replaced at Columbia, said Tom O'Neill, spokesman. Mr. O'Neill said the firm has not yet determined whether to replace him or have the marketing staff assume his duties.
Pavlos Alexandrakis joined J.P. Morgan Fleming Asset Management, New York, as vice president and portfolio manager in the global/international equity group. He replaces Paul Quinsee, who last year moved to the firm's U.S. equity team to oversee portfolio managers and the structured equity implementation team.
Mr. Alexandrakis was senior vice president and director of international equities at Pioneer Investment Management, Boston. Tara Pescatore, a spokeswoman for Pioneer, did not return calls by press time regarding a replacement.
Ken Brooks, Keith Seidman, James P. Marx and Mary Giard have joined Weiss, Peck & Greer, expanding the New York firm's institutional sales effort. Mr. Brooks, who will oversee national sales to public funds, had been senior vice president at Zurich Scudder. Mr. Seidman, who will cover the corporate, endowment and foundation markets in the Southeast, was a vice president at Vencast, a manager specializing in hedge funds and private equity funds. Mr. Marx, formerly a vice president at Husic Capital Management, is responsible for the Midwest middle-market corporate, endowment and foundation markets. Ms. Giard, who will focus on endowments and foundations in the Northeast, was senior vice president at Klingenstein Fields and Co., a money manager.
Scott E. Decatur was named a vice president and senior equity analyst for Delaware Investments' $6.9 billion quantitative investment area; he held a similar post at Grantham, Mayo, Van Otterloo & Co.
Also, Dina M. Welch was hired as vice president and portfolio manager to manage fixed-income assets for Delaware's parent, Lincoln National Life Insurance Co. She had been an assistant vice president and portfolio manager at Provident Mutual Life Insurance Co. Both positions at Philadelphia-based Delaware are new.
Rainer Beutler was named head of institutional sales at Siemens Financial Services, responsible for marketing investment management services to German corporations. The company is a subsidiary of Siemens AG, Munich. Mr. Beutler had been head of institutional business for Lazard Asset Management in Frankfurt. Mr. Beutler oversees a team of four and plans to hire two more staff members in the next few months. The group will offer European and international equities and bonds and currency overlay.
Timothy Malloy was named research analyst at Thomas Weisel Asset Management, Boston. In the new position, Mr. Malloy will cover the media and telecommunications industries for all of the firm's portfolios. He had been an analyst at Baring Asset Management.
John Kingston III has been promoted to senior vice president and general counsel of Affiliated Managers Group Inc., Boston. He had been vice president and associate general counsel.
John Johnson will be a senior equity analyst at mutual fund manager Founders Asset Management, Denver. He was an equity analyst with American Century Investment Management, Kansas City, Mo. Chris Doyle, a spokesman for American Century, said a replacement is being sought.
Donald Heberle was hired as director of investment strategy for Mellon Financial Corp.'s private wealth management group. Mr. Heberle will manage the analysis and development of investment ideas, strategic asset allocation and investment research. It is a new position. He had been a senior portfolio manager in Mellon's family office group.
Also, Steven N. Lerangis was named vice president and sales officer in the private wealth area at Mellon. Previously, he was vice president in the family wealth management group of J.P. Morgan Private Bank, New York, where his duties will be assumed by others.
Richard J. Terres was named institutional marketing director for Canada by Mellon Institutional Asset Management, a new position. He will be based in Toronto. Mr. Terres will direct marketing of investment management strategies to Canadian institutional investors as well as cross-selling services from sister companies such as CIBC Mellon Global Securities Services Co. and Buck Consultants. Mr. Terres was an institutional marketer at Founders Asset Management, a Mellon subsidiary in Denver.
Jeffrey Lumbard and Michael Wolverton were promoted to vice presidents at Penn Capital Management Co. Inc., Cherry Hill, N.J. Both will concentrate on marketing and client service; they had been assistant vice presidents. Paulo Silva, a recent business school graduate, was hired as a research analyst to replace Brian Kloss, who joined Gartmore Global Investments as a high-yield analyst.
Loren M. Katzovitz, Kevin A. Felix and Patrick Hughes were hired by Guggenheim Partners, a New York hedge fund. The three had been running a $4 billion fund of hedge funds at Royal Bank of Canada's alternative assets group. Officials at Guggenheim declined further comment. Royal Bank officials did not return calls seeking comment. Guggenheim's hiring of the trio is thought to be a step toward boosting the firm's presence in the fund-of-funds market. Guggenheim is owned by the Guggenheim family and several private investors.
Stratford Advisory Group, a Chicago-based consultant, is searching for two analysts, one in alternative investments and the other in broad investing, said Geeta Kapadia, associate consultant. Both are new positions. The analysts would do work in asset class research and support consultants in assisting in manager searches, asset allocation studies and performance measurement, among other tasks. Stratford isn't using a recruiting firm. Interested applicants can apply to the company.
Rainer L.C. Frost, executive vice president and general counsel of GoldK, is leaving the company to reform Clarity Consulting Group, the management consulting practice he headed earlier in his career.
GoldK will be Clarity Consulting's first new client and Mr. Frost will remain "of counsel" to GoldK. Reginald F. Thors has been promoted and will assume Mr. Frost's general counsel duties. Mr. Thors will report to Brian Boyle, chairman and CEO of GoldK.
PlanAnalytics Inc., parent of Search401k, has hired Harold Orcutt as executive vice president and director of client relations.
This is a new position. Formerly, the client relations professionals reporter to Tom Plumb, Search401k CEO, said Anne Dougherty, company spokeswoman.
Mr. Orcutt was the national relationship manager for U.S. Bank Institutional Trust Group. Tk: who replaced him