July 26 2002 P&I People
TOP OF THE NEWS
Emory Investment Management, the asset management department of Emory University, Decatur, Ga., is searching for an associate director-investment administration for $4.5 billion in endowment, pension and other assets it oversees.
The new associate director will replace Julie Vollenweider, who became director-private markets, overseeing private equity investments, a new position.
The associate director will report to Mary Cahill, chief investment officer.
Among the duties, the associate director assists in developing recommendations for investments, as well as trading policies, performance and risk analytics. Also the associate director will oversee, among other responsibilities, risk audits of external investment managers' trading and will ensure portfolio investments comply with guidelines.
The endowment's assets include investments in equities, both domestic and international, bonds, real estate, and venture capital, private equity, energy and other alternative strategies.
Anyone interested may contact the university. The department isn't using a recruiting firm.
FUNDS
Carol L. Kontor has been offered the position of state investment officer for the $5 billion Nebraska State Investment Council, Lincoln, said Shawn P. Nowlan, legal counsel for the Nebraska Public Employees' Retirement System. Ms. Kontor is a member of the NSIC and is managing director for McCarthy Group Asset Management, Omaha. The position has been vacant since Rex W. Holsapple became chief investment officer for the $6 billion Maine State Retirement System, Augusta, in February. Confirmation of Ms. Kontor's acceptance was not available by press time.
Danny Bowers Jr. will leave his post as chief investment officer of the $1.6 billion Houston Firefighters' Relief and Retirement Fund on Aug. 31. Although he does not have another employer lined up, he did say he would like to pursue opportunities consulting for institutional investors. Christopher Gonzalez, senior analyst, will take over as interim CIO for six months, said Mr. Bowers. The fund then will decide how to fill the post on a permanent basis.
Phil Roblee was hired as an investment officer for fixed income at the $7.3 billion Ohio School Employees Retirement System, Columbus. He had been a manager in real estate research for the $50 billion Ohio State Teachers Retirement System, also of Columbus. The School Employees fixed-income post had been vacant since late 2000, said Doug Sisson, director of investments. No decision on a search for a replacement has been made at the teachers fund.
Heather Williamson joined the Board of Pensions-Evangelical Lutheran Church in America, Minneapolis, as senior investment manager-investment client service. The position is new for the $4.4 billion defined contribution plan and is designed to better link the investment management staff's expertise with participant investment education programs, said Michael Troutman, vice president-investments. Ms. Williamson also will develop and promote social investment activities, Mr. Troutman said. Ms. Williamson had been a consultant at investment management consultant Berthel Schutter LLC, St. Paul. Her replacement is being sought, said Diane Schutter, principal.
Robert Schiller will become president of the board of trustees of the $21 billion Teachers' Retirement System of Illinois, Springfield on Aug. 1. That position is part of his responsibilities as the new Illinois state superintendent of schools. Separately, Gov. George Ryan reappointed James Bruner to a four-year term as trustee, and named Michael Colsch, deputy director of the Illinois Bureau of the Budget, as trustee, replacing William Enlow, an attorney, said Jon Baumann, TRS executive director.
J. Kim Natale, Donna Bottenberg and Mark Anderson were re-elected to the 16-member board of trustees of the $26 billion Public Employees' Retirement Association of Colorado, Denver. Mr. Natale, the current chairman, is a Jefferson County math and science teacher and has held the school division seat since 1985. Ms. Bottenberg, a professor and director of the Center for Professional Development at the University of Northern Colorado, has held the state division seat since 1993. Mr. Anderson, a Colorado Springs city insurance and claims manager, has occupied the municipal division seat since 1993.
MANAGERS
Norton H. Reamer, the founder of United Asset Management, was named an advisory director by investment banking boutique Berkshire Capital Corp., New York. He will work with Berkshire senior partners to develop new business and advise clients on mergers and acquisitions, said H. Bruce McEver, chairman. Mr. Reamer will continue as president of Unicorn Corp., a Boston money manager strategic consulting firm, and chairman of Hellman Jordan Management Co. Inc., Boston.
Mark Marinella joined Columbia Management Group - the asset management arm of FleetBoston Financial, Boston - as managing director and head of fixed income. It's a new position. Mr. Marinella had been co-head of fixed income at State Street Research & Management Co., Boston. Dan Strelow will take over as the sole CIO of fixed income and Mr. Marinella won't be replaced.
Marc Baylin joined J.P. Morgan Fleming Asset Management, New York, as a managing director and a large-cap growth equity portfolio manager. Mr. Baylin replaces Nadav Peles, who is leaving to return to Israel. Mr. Baylin was a vice president and portfolio manager of the $700 million New America Growth Fund at T. Rowe Price Associates Inc., Baltimore. Joe Milano, a research analyst covering the business services sector, will assume Mr. Baylin's duties.
Christopher T. Vincent joined William Blair & Co., Chicago, as head of fixed income, a new position. Mr. Vincent will co-manage the William Blair Income Fund and supervise fixed-income operations. Mr. Vincent was a managing director and senior fixed-income portfolio manager at Deutsche Asset Management, New York. Wendy Shapiro, a spokeswoman for Deutsche, did not return calls by press time regarding Mr. Vincent's replacement.
Christopher Perras joined DG Capital Management, Boston, as a partner and portfolio manager, a new position. Mr. Perras had been a portfolio manager at AIM Capital Management, Houston, where he will not be replaced. At DG, Mr. Perras will manage hedge fund pools, separate accounts and co-manage the Quaker Aggressive Growth Fund with Manu Daftary, president. DG subadvises the fund for Quaker Funds Group, Valley Forge, Pa.
The firm also hired Marshall Hurd as director of research, a new position. Mr. Hurd had been a senior analyst at Fidelity Investments Inc., Boston.
Michael Gray was named director of investment-grade credit research for the specialty fixed-income team in New York by Deutsche Asset Management in the Americas. The position is new. Mr. Gray had been head of European investment-grade credit research in the London office of UBS Warburg, where he headed a team of 17 analysts. UBS Warburg's Zurich press office did not return calls regarding Mr. Gray's replacement. Also, Greg Croll was named senior high-yield trader for active mandates by Deutsche, a new position.
Arthur J. Lev was named partner and general counsel at FrontPoint Partners LLC, a Greenwich, Conn., hedge fund firm. Mr. Lev will take over general counsel duties performed by FrontPoint's chief operating officer, Paul Ghaffari, who will now do "only four jobs here instead of five," said Michael Litt, partner at the firm. Mr. Lev was general counsel at Morgan Stanley Investment Management Inc., New York, and head of operational risk management in Morgan's risk management division. Officials at Morgan Stanley did not respond by press time to inquiries about Mr. Lev's replacement.
Wayne Szczsponik was named pension sales manager for the pension consulting services unit of American Express Tax and Business Services Inc., Chicago. The position is new. Mr. Szczsponik was Midwest regional pension sales manager for the group pension services unit of Nationwide Financial, Columbus, Ohio. Tiffany Swineheart, a spokeswoman, said Nationwide is seeking a replacement.
Jonathan Carlson was hired by CIGNA Retirement & Investment Services Inc., Hartford, Conn., as vice president of investment consultant services, said spokeswoman K.C. Emery. Mr. Carlson had been a stable value mutual fund manager at Deutsche Asset Management. John Axtell assumed his duties on the stable value team, said spokeswoman Wendy Shapiro. Also, Leah Long joined CIGNA as an investment consultant adviser. She will report to Mr. Carlson, said Ms. Emery. Ms. Long had been client services manager at Wachovia Corp., Charlotte, N.C., where her replacement has not yet been found.
Both CIGNA positions are new, said Ms. Emery.
Robert Benish joined INVESCO Retirement Inc., Atlanta, as its director of participant services, a new position. He had been vice president and manager of plan sponsor communications for Deutsche Asset Management and was replaced by Roger Gray, who was national client service manager at Deutsche.
At INVESCO, Mr. Benish will be responsible for defined contribution plan participant education, communications and call center activities in Atlanta and Winston-Salem N.C.
Diane Tod South was named director of social research, a new position, at Citizens Advisers Inc., Portsmouth, N.H., the investment arm of socially responsible mutual fund firm Citizens Funds. Ms. South had been social research manager at Citizens. She will report to CIO Jeffrey Schappe.
CONSULTANTS
Kenneth C. Boyer joined Cooper Consultants, Berkeley, Calif., as a managing director for the firm's Midwestern and Eastern clients. Mr. Boyer will open a new office for the firm, which evaluates investment management consultants, in Centerville, Ohio. Previously, he was a managing director for Commonfund. A Commonfund spokesman said a replacement is being sought. Also, Trina Chaudhuri also joined Cooper as research analyst. She previously was an associate in equities research at J.P. Morgan Securities.
ETC.
Brian Winne was promoted to president and chief executive officer of Chicago-based portfolio management software provider Insignis Inc. He replaces James Marzano, who entered semi-retirement but will continue as co-chairman of the board of directors. Previously, Mr. Winne was chief operating officer. Devon Kim, marketing manager, said the firm will search for a new COO.
