Patricia Lipton will retire as executive director of the State of Wisconsin Investment Board, Madison. Her retirement is effective Jan. 2. She has been executive director since 1989; the board has $55 billion in assets.
"With the appointment of six new trustees to the board, this becomes an opportune time for me to step aside," she said in her resignation letter to the board. "This will allow the new board to move forward with its own priorities."
The board is considering conducting a nationwide search for a replacement, but details haven't been completed, said Vicki Hearing, public information officer.
Barbara Jarriel will retire in February as chief investment officer of the $85 billion Florida State Board of Administration, Tallahassee. Ms. Jarriel, who has been with the FSBA for 24 years, was named CIO in September 2002. Prior to that, she was chief of fixed income.
Patricia J. Gerrick resigned as chief investment officer of the $9.7 billion Indiana Public Employees' Retirement Fund, Indianapolis. The fund formed a committee to lead the search for a new CIO. Craig E. Hartzer, who was named executive director in February, was named acting CIO in the interim. Ms. Gerrick joined the fund in March 2001.
John Jessup was named interim president and chief executive officer of DuPont Capital Management Corp., the investment management subsidiary of E.I. du Pont de Nemours & Co. Inc., Wilmington, Del. He is filling in for Edward J. Bassett, who retired Sept. 30; Mr. Bassett also was a vice president of the parent, in charge of the company's $22.8 billion in pension assets.
Mr. Jessup, vice president-finance and treasurer at DuPont Capital, is performing both jobs while a replacement is being sought, said Joe Haley, managing director of marketing and client services at DuPont Capital.
Arvin Soh was appointed manager of pension investments at Pfizer Inc., New York, overseeing $5 billion in assets. He replaces David Webber, who now works in Pfizer's corporate finance department. Mr. Soh was most recently an analyst at a hedge fund run by Orbitex Management Inc., until it merged with Saratoga Capital Management, Garden City, N.Y., last year.
Henry L. Ouma retired as director of investment management at the $20 billion United Nations Joint Staff Pension Fund, New York. He had worked at the United Nations pension fund since 1980; he had been investment director since 1999.
Lenore Ivers, a senior investment officer at the fund, is interim director. U.N. spokeswoman Ann Siddall said Mr. Ouma's post was advertised on the U.N.'s website, and no more applications are being accepted. The search committee is working with a list of applicants, but it's unclear how long it will take until a new director is appointed, she said. The search was conducted internally.
Laurie Warner was named acting executive director of the $37 billion Oregon Public Employees Retirement Fund, Salem. Ms. Warner will serve until trustees name a permanent replacement for Jim Voytko, who resigned Oct. 30. Ms. Warner was the facilities division administrator for the state's Department of Administrative Services.
In his resignation letter, Mr. Voytko cited differences with the new board of trustees, whose terms began in September. "Though the board's collective involvement with PERS has been brief, it is clear there are differences between us regarding management initiatives and the strategic direction they support," he wrote.
The Department of Administrative Services will handle the search for the system's new executive director and will use an executive search firm, said Cindy Becker, assistant director of the department.
Roselyn H. Spencer was named executive director of the $1.2 billion City of Baltimore Employees' Retirement System, said Joan Pratt, chairwoman. Ms. Spencer had been acting executive director since July, when the plan's management was separated from that of the $1.8 billion City of Baltimore Fire and Police Employees' Retirement System. Previously, while the plans were independent of each other, the management was shared. Ms. Spencer was deputy administrator when the plans shared the same staffs; Thomas P. Taneyhill, former executive administrator of the jointly managed plans, became executive director of the Fire and Police system in July. The title of executive administrator was eliminated at that time.
Lorelei Chao joined the $4.2 billion Orange County Public Employees Retirement System, Santa Ana, Calif., as an associate investment officer. This is a new position, said Keith Bozarth, the fund's chief executive officer. Ms. Chao had been an investment consultant for Northern Trust Corp., Chicago. No information was available on her replacement.
Dale Sims is the new chairman of the board at the $24.5 billion Tennessee Consolidated Retirement System, Nashville. Mr. Sims assumed the role when he was appointed acting state treasurer by Gov. Phil Bredesen. He replaced Steve Adams, who left to become chief administrative officer of the new Tennessee Education Lottery Corp. Mr. Sims will serve until January, when the Legislature will elect a permanent replacement. Mr. Sims had been an executive assistant in the treasurer's office.
Sandi Mills was named a trustee of the Colorado Public Employees' Retirement Association, Denver. She replaced J. Kim Natale, who left the board when he was hired as PERA's deputy executive director of support services in August. Ms. Mills' term expires June 30, 2004.
Dory A. Wiley was appointed trustee of the $72 billion Texas Teacher Retirement System, Austin. Mr. Wiley, a managing director of Dallas-based SAMCO Capital Markets, a broker-dealer, will serve until Aug. 31, 2009. He replaced Brenda Jackson, whose term expired.
Colin Robertson was appointed managing director of the fixed-income group at Northern Trust Global Investors, Chicago, replacing Glenn Migliozzi, who is leaving to return to the East Coast for personal reasons. Mr. Robertson was director of the high-quality core, short-duration and global fixed-income products at Northern. A senior member of that team will be named to replace Mr. Robertson, said spokesman Kurt Ross, but no timetable has been set.
Stephen Lockman joined Blaylock-Abacus Asset Management as chief investment officer of fixed income, and Jeffrey Martin has joined as head of credit research, both new positions at the New York firm. (Earlier this month, Blaylock & Partners acquired Abacus Financial Group, Chicago.) Mr. Lockman previously was manager of the Stein Roe Institutional High Yield portfolio at the former Stein Roe & Farnham; Mr. Martin was a vice president and high-yield analyst there.
Manraj Sekhon joined Henderson Global Investors, London, as director and co-manager of its Europe, Australasia and Far East funds, a new position. He had been deputy head of global equities at INVESCO Asset Management in London; information on his replacement wasn't available.
William Feingold and Thomas Felgner were hired as portfolio managers to head a newly created convertible arbitrage team at FrontPoint Partners LLC, Greenwich, Conn. FrontPoint also introduced a new hedge fund using the strategy. Mr. Feingold had been senior portfolio manager and member of the convertible arbitrage team at The Clinton Group, New York.
Mr. Feldner had been a member of FrontPoint's quantitative equity strategies team. Information on replacements was not available at press time.
Matthew Hoffman joined hedge fund of funds manager Mayer Capital Advisors LLC, New York, as chief investment officer and founding partner. Mr. Hoffman was a vice president at Credit Suisse Asset Management in the hedge fund of funds group, said Suzanne Fleming, a CSAM spokeswoman. Yung-Shin Kung, an associate vice president in the same group, replaced Mr. Hoffman.
Mayer Capital was formed in September by Eldon Mayer, a founder, chairman and chief executive officer of Lynch & Mayer, a New York money management firm.