James L. Sanford was elected corporate vice president and treasurer of Northrop Grumman Corp., Los Angeles. He is replacing Albert F. Myers, who was named corporate vice president-strategy and technology, a new position.
Mr. Sanford will be responsible for all treasury functions, which includes overseeing Northrop Grumman's $22 billion in defined benefit and defined contribution assets. He had been vice president of contracts and pricing.
Mark G. Gibbens was named vice president and treasurer at Lucent Technologies Inc., Murray Hill, N.J. Mr. Gibbens will be responsible for overseeing management of the company's $34.4 billion retirement plan, corporate finance and risk management. Mr. Gibbens had been assistant treasurer. He replaces Martina Hund-Mejean, who left Lucent in December.
Rob Feckner was elected chairman of CalPERS' investment committee. He is vice president of the $134 billion California Public Employees' Retirement System, Sacramento, board of administration. Priya Sara Mathur, a principal financial analyst for Bay Area Rapid Transit District, was elected vice chairman.
Stephen B. Timbers was named vice chairman of Northern Trust Corp. and the Northern Trust Co., both new positions. He will remain president of Northern Trust Global Investments. Recruiters familiar with Northern Trust said they understood that Mr. Timbers' previous contract expired this month.
Lewis A. Sanders will become CEO of Alliance Capital Management Holding and Alliance Capital Management, New York, effective June 30. Bruce W. Calvert, currently Alliance's chairman and CEO, will remain chairman, according to a company statement. Mr. Sanders is vice chairman and chief investment officer of Alliance Capital Management; he was CEO of Sanford C. Bernstein, which was merged with Alliance in 2000. Mr. Sanders will drop the CIO title but keep the duties, said John Meyers, a spokesman.
George "Gus" Sauter will become chief investment officer, a new position responsible for all in-house investment management, at the Vanguard Group, Malvern, Pa. Spokesman Rebecca Cohen said he will retain his responsibilities as head of the quantitative group. Also, Ian MacKinnon, managing director and head of the fixed-income group, will be retiring June 30 after 21 years with the firm. Robert Auwaerter, principal and fixed-income portfolio manager, will head the fixed-income group after the departure of Mr. MacKinnon.
Mark Smith joined Loomis, Sayles & Co., Boston, as managing director of fixed income, a new position. He will lead fixed-income marketing and client service. He had been a managing director at J.P. Morgan Fleming Asset Management Inc., New York; he will not be replaced.
Richard Jandrain was named to the new job of chief equity strategist at Banc One Investment Advisors Corp., Columbus, Ohio. He had been chief investment officer for equities. Laurence Baumgartner succeeds Mr. Jandrain in the CIO's job; he will retain his duties as a portfolio manager and leader of the company's small-cap value strategy.