The $40 billion Pennsylvania Public School Employees' Retirement System, Harrisburg, will conduct a nationwide search to find a replacement for Dale Everhart, who is retiring as executive director and moving to Florida. Trustees are in the process of evaluating executive recruitment firms to start the search. Mr. Everhart, who will leave in June, was executive director for more than four years and a 28-year employee of the system. Deputy Jeffrey Clay will serve as interim executive director.
Raj Chandhok was named vice president of trust administration and investments at Northrop Grumman Corp., Los Angeles. He will be responsible for the company's $19 billion in defined benefit and defined contribution assets. Mr. Chandhok replaced Rose Mary Abelson, former director of investments and assistant treasurer, who resigned last year to join WestAM Private Equities, Chicago.
Mr. Chandhok was vice president and CFO of the California Association of Realtors, Los Angeles.
Deborah Boedicker was named director of marketing by Strategic Investment Group, Arlington Va., a manager-of-managers and total investment outsourcing firm. Ms. Boedicker was head of client relations at UBS Global Asset Management, Chicago, until she left last fall.
Joseph M. Rusbarsky joined Crosslink Capital, San Francisco, as a partner to head the institutional marketing business. Crosslink is a venture capital, crossover and hedge funds firm. Mr. Rusbarsky had been head of sales and marketing at Husic Capital Management, San Francisco. He was replaced by John Langeler, senior vice president.
Barry Sagraves was named chief executive officer for Europe at Northern Trust Global Investments, London, a new position. He was director of corporate strategy at Martin Currie Investment Management Ltd., Edinburgh. Mr. Sagraves said he will be responsible for expanding Northern Trust's money management business in Europe. Ross Lecky, a spokesman for Martin Currie, said no replacement has been named so far.
Prakash A. Melwani was appointed senior partner at The Blackstone Group, a new position at the New York-based private equity firm. Mr. Melwani previously was chief investment officer at management buyout firm Vestar Capital Partners, New York, which he co-founded in 1988. It could not be learned by press time whether he will be replaced.
Stephen Kim joined Barclays Global Investors, San Francisco, as a managing director and a key client relationship officer for large pension fund and other institutional clients, a new position. Mr. Kim had been managing director and chief investment officer of Dresdner RCM Global Investors, San Francisco; he left in March 2002.
Robin Hindle Fisher was named managing director of client relationships, a new position at Deutsche Asset Management in London. He was U.K. chief executive officer at Phillips & Drew, London, and left last year after the firm merged with UBS Asset Management.
William J. Malouin is retiring as chief executive officer of Sceptre Investment Counsel Ltd., Toronto. He will be succeeded by Richard L. Knowles, president and chief operating officer. Mr. Knowles will remain president, and the company will choose a new COO; Mr. Knowles declined to discuss the search. Also, J. Douglas Grant, a founding partner of Sceptre, resigned as chairman but will remain a director. W. Ross Walker, an independent director since 1997, was named chairman.
Terry Irrgang joined Atlanta-based Equity Investment Corp., an institutional value equity management firm, as portfolio manager and principal. He had been a portfolio manager and product manager at INVESCO in Atlanta; he has not yet been replaced.
Christop von Reiche was named executive director of the German institutional business development team at Goldman Sachs Asset Management, Frankfurt. It is a new position. He had been an executive director in the firm's investment banking division. In Milan, Italy, Tomaso Giorgetti was appointed executive director of the Italian business development team, a new position. Previously, he was a senior relationship manager at Invesco Italia, Milan. No information was available on a replacement for either person.