Barbara Jarriel was named chief investment officer of the $85 billion Florida State Board of Administration, Tallahassee, a new position. Ms. Jarriel, who was the system's chief of fixed income, will report to Coleman Stipanovich, executive director. Ms. Jarriel will supervise senior investment officers from each of the system's five asset classes - domestic equity, fixed income, international equity, real estate and alternative investments, Mr. Stipanovich said.
Henri-Paul Rousseau was named chairman and chief executive officer of the Caisse de depot et placement du Quebec, Montreal, as well as president of CDP Capital, the pension fund's money management unit.
Mr. Rousseau replaces Jean-Claude Scraire as head of the Caisse, Canada's largest pension fund with C$133 billion (US $85 billion) in assets at the end of last year. Mr. Scraire resigned in May.
Michel Nadeau, former president of CDP Capital, is rumored to have resigned under pressure from Mr. Rousseau. Asked if Mr. Nadeau was forced out, Caisse spokeswoman Isabell Tremblay said: "Mr. Rousseau and the board decided he should assume both functions as head of the Caisse and CDP Capital."
Mr. Nadeau was with the Caisse for 18 years. "My work at CDP has allowed me to meet great challenges," Mr. Nadeau said in a news release. "Our management team is now ranked among the world's best. However, in order to move in a new direction, a new management team will have to raise the bar."
Critics say the Quebec government exerts too much control over the pension fund. Asked if the Quebec government had any influence on Mr. Nadeau's ouster, Ms. Tremblay said : "The Quebec government didn't get involved."
Arkansas state Sen. David Malone was named executive director of the $7 billion Arkansas Teacher Retirement System, Little Rock. He will take over Jan. 1, when his legislative term expires. He replaces William Shirron, who resigned in March. Mr. Malone's salary will be $100,199, but trustees decided last month to seek an increase to $150,000 effective in July 2003. More than 100 people vied for the post, sources said.
Julie Adamik was promoted to senior manager of global benefits at Callaway Golf Co., Carlsbad, Calif. In the new position, she will oversee international and domestic benefits, in addition to supervising the company's $75 million 401(k) plan. Ms. Adamik had been manager of employee benefits.
John Day was named interim CIO at the $22 billion Illinois Teachers' Retirement System, Springfield. He replaces Charles Self III, who resigned for personal reasons, according to a press release. Mr. Day is assistant executive director of the system; Hudepohl & Associates will conduct a search for a permanent replacement.
Ralph Adkins was named chairman of the board of trustees at the $5.3 billion Delaware Public Employees' Retirement System, Dover, said Christy Ulmer, pension board secretary. He is chairman of Chesapeake Utilities Corp., Dover. Mr. Adkins succeeds A. Dale Stratton, who retired but will continue to serve on the investment committee.
John Crinion is the new chairman of the board of trustees of Asbestos Workers Local 17, Chicago. He replaces Terry Lynch, who became international vice president at large for the International Association of Heat and Frost Insulators and Asbestos Workers, Washington.
Mr. Crinion will continue as secretary-treasurer of the board. The board oversees $200 million in combined pension, annuity and health and welfare assets.
Andreas Utermann will become global chief investment officer of Allianz Dresdner Asset Management on Nov. 1, succeeding Bill Price. Earlier this year, Mr. Price announced he would focus on his duties as chairman and CIO of Dresdner RCM Global Investors, a unit of ADAM. Mr. Utermann was a rising star at Merrill Lynch Investment Managers in London when he resigned as global head of equities in May amid a series of client defections and staff turnover.
At Merrill Lynch, Brian Murdock assumed Mr. Utermann's responsibilities;. Mr. Murdock had been president and CIO of the Asia-Pacific region.
Amy Prehn and May Yu were hired by the Massachusetts Pension Reserves Investment Management Board, Boston, as investment analysts covering public securities markets. Ms. Prehn joined the $27 billion pension fund from Cambridge Associates, Boston, where she was an analyst. Ms. Yu had been an analyst at Bain Capital Inc., Boston. Representatives at Bain and Cambridge could not be reached for information on their replacements.
The fund also hired Zoe Niarchos as an analyst covering alternative investments. Ms. Niarchos was a former intern at PRIM. All three fill vacancies, said Jerry Mitchell, chief investment officer.