TOP OF THE NEWS
Merger may offer opportunity
Northrop Grumman Corp.'s proposed acquisition of TRW Corp., Cleveland, may provide an opportunity for Robert M. Hamje, president and chief investment officer of TRW Investment Management Co., to head the combined pension investment operations, filling the vacancy for the top pension investment job at Northrop.
Northrop, Los Angeles, is still searching for a replacement for Rose Mary Abelson, director-investments and assistant treasurer, who left in early May.
"I can't comment," Mr. Hamje said of moving to Northrop. He said it is too early in the acquisition process to discuss what will happen with the TRW pension investment staff.
Northrop retained Sprague & Associates, Sherman Oaks, Calif., to assist in the recruiting, according to a human resources official at the defense contractor. Ms. Abelson's duties are being handled by Northrop's pension staff.
TRW has $2.9 billion in defined benefit and $2.4 billion in defined contribution assets. Northrop Grumman has $13.9 billion in defined benefit and $5 billion in defined contribution assets.
FUNDS
The $56.9 billion State of Wisconsin Investment Board, Madison, is searching for a managing director for alternatives to replace Jim Gannon, who is retiring effective today. The managing director oversees a $2.2 billion private placement portfolio. Wegner & Associates, Milwaukee, is assisting. The search is in the "very early" stages, said Ledell Zellers, human resources director. A timeline and job posting have not been made yet.
Case Western Reserve University, Cleveland, is searching for an associate treasurer for financing and investments, a new position. The successful candidate will oversee the $1.4 billion university endowment's fixed-income portfolio and $200 million operating cash funds, said Sally Staley, associate treasurer for alternatives and equity investments. A job posting can be found on the university's website at www.cwru.edu.
Bill Koski was hired as director of the $2.2 billion fixed-income division of the $27 billion Colorado Public Employees' Retirement Association, Denver. He will replace Jennifer Paquette, who resigned in June to spend more time with her family. Mr. Koski had been head of taxable fixed-income research for Charles Schwab Investment Management, San Francisco. Phone calls to Schwab were not returned by press time.
Al Gasiorek, executive director-trust investments at the $18 billion pension fund of BellSouth Corp., Atlanta, will take early retirement at the end of July. His position will not be filled. Rick Kraich, director of private equity, will assume Mr. Gasiorek's duties, which since January have focused on alternative investments. Mr. Gasiorek is interested in working in asset management.
Gwendolyn Bell, administrator of the $430 million City of New Haven, Conn., pension plans, has retired. She will not be replaced; controller Mark Pietrosimone will assume her duties.
MANAGERS
Todd Burns will become president and CEO of Lynch Jones & Ryan, New York, when Howard Schwartz retires at the end of the year. Mr. Burns is vice president for global sales.
Timothy Flannery, George Shiau, Stephen Witt and Ross Collins were hired by FrontPoint Partners LLC, a Greenwich, Conn.-based hedge fund, to run a new energy equity long-short strategy, said Philip N. Duff, FrontPoint's CEO. The new team will be based in Chicago. Messrs. Flannery, Shiau and Witt all come from Trove Partners LLC, a Chicago-based energy hedge fund. Mr. Collins formerly worked in equity research at Credit Suisse First Boston Corp., New York. Officials at Trove and CSFB did not return phone calls by press time for comment.
Jeffrey J. Schappe has been promoted to senior vice president and CIO at Citizens Advisors Inc., Portsmouth, N.H., the investment adviser to the $1 billion Citizens Funds. It is a new position. Mr. Schappe joined Citizens last May as vice president and director of research.
J. Andy Hilbert was hired as CFO by defined contribution retirement plan provider GoldK Inc., Waltham, Mass. This is a new position. Mr. Hilbert was CFO at Liberty Financial Cos., Boston, until its sale to FleetBoston Financial, Boston, last year.
Greg Sawers was named managing director and global head of research at Credit Suisse Asset Management, New York. It is a new position. Mr. Sawers was director of U.S. equity research and portfolio manager at AllianceBernstein Institutional Investment Management, New York. Officials there did not return several phone calls.
Dean Egerter was appointed senior vice president of client services and marketing at Heitman Real Estate Investment Management, Chicago, a new position. Mr. Egerter was managing director, capital markets and investor relations, at Heller Financial Inc., Chicago. It could not be learned by press time if he would be replaced.
Bill Harmon was named vice president for 401(k) business at Great-West Life & Annuity Insurance Co., Greenwood Village, Colo. The position was created following a reorganization in which Great West's 401(k) business was moved to financial services from employee benefits. Mr. Harmon had been a regional manager in Great West's mid-Atlantic sales office.
Cameron Cooke was promoted to co-manager of the $1 billion INVESCO Small Company Growth Fund. He was an assistant portfolio manager.
CONSULTANTS:
Sean Curry and Wesley Urick joined Wilshire Associates as senior associates at its new Chicago office. Mr. Curry was a relationship manager at State Street Bank & Trust; Mr. Urick was a vice president with Robert W. Baird & Co.
Eve Atchison has been hired as a consultant at DeMarche Associates Inc., Overland Park, Kan. The position is a new one. Ms. Atchison was a principal at Turner Investment Partners, Berwyn, Pa., where she was replaced by Scott Eversole. He was a vice president at mPower Investment Advisors, San Francisco.
