Two money managers have named new chief investment officers, while the CIO of another firm has resigned.
Fort Washington Investment Advisors Inc., Cincinnati, tapped Nicholas P. Sargen as chief investment officer. Mr. Sargen had been managing director and global market strategist at the private bank of J.P. Morgan Chase & Co., New York. He was replaced by Stuart Schweitzer, global investment strategist for J.P. Morgan Fleming Asset Management, New York.
William Ledwin, president of Fort Washington, did not return a call about Mr. Sargen's predecessor. At Carret and Co., R. Stephen Bartholow Jr. was named chief investment officer.
He will retain his title as senior managing director, and will divide his time between the firm's New York headquarters and its office in Hanover, N.H.
Also, Rama Krishna resigned as Citigroup Asset Management's CIO-institutional.
Sources at New York-based Citigroup said they were unsure of Mr. Krishna's plans, but thought he might be starting his own money management firm. Mr. Krishna could not be reached for comment.
Global CIO Michael Even will assume Mr. Krishna's institutional CIO duties on an interim basis. Mr. Even also is CIO of Citigroup Asset Management's private client unit.
The company is evaluating whether to fill the institutional and private client CIO spots, said Mary Athridge, a Citigroup spokeswoman.
