Kristen A. Gilbertson was named chief investment officer of the $3.9 billion University of Pennsylvania endowment. Ms. Gilbertson also will be responsible for overseeing investments of the Philadelphia-based university's $600 million pension fund. Ms. Gilbertson, who takes over on Aug. 15, is replacing Landis Zimmerman, who became CIO at the Howard Hughes Medical Institute in February. Ms. Gilbertson was a managing director of public equities at Stanford Management Co., Menlo Park, Calif., with responsibility for the public equity and long/short portfolios of the $9.8 billion Stanford University endowment.
Tina M. Leiss was named operations officer at the $15.5 billion Nevada Public Employees' Retirement System, Carson City. She replaces Dana K. Bilyeu, who was promoted to executive officer in October. Ms. Leiss was the system's legal counsel.
Alexander Aikens rejoined the $32.5 billion Massachusetts Pension Reserves Investment Management Board, Boston. Mr. Aikens, who was appointed by state Treasurer Timothy Cahill, will serve until Sept. 27, 2005, completing the term of David Grain. Mr. Grain will remain on the investment committee, but he stepped down from the nine-member board because of business obligations. Mr. Aikens previously served on the PRIM Board as a gubernatorial appointee from 2001 until his term expired earlier this year. He is an adjunct professor at Brandeis University, Waltham, Mass.
Brian C. Tipple was named director of U.S. equities at Russell Investment Group, Tacoma, Wash. He replaced Paul Greenwood, who is leaving to pursue other opportunities. Mr. Tipple, who returns to Russell after a four-year absence, was chairman and chief executive officer of Sirach Capital, Seattle. Harvey Bateman, president, succeeded Mr. Tipple as CEO and head of the large-cap team; James Kieburtz, principal, has assumed leadership of the small-cap team from Mr. Bateman.
Sam Morse was appointed to the new position of head of institutional U.K. equity investment at Fidelity Investments, London. He was previously head of equities at M&G Investment Management Ltd., London; he left the firm in September after the investment teams of Prudential Corp. PLC and M&G were combined.
Michael E. Gray was appointed managing director and global head of credit research for the fixed-income group at Credit Suisse Asset Management, a new position at the New York-based firm. Mr. Gray had been managing director and head of U.S. credit research in the specialty fixed-income group at Deutsche Asset Management, New York. Eric Kirsch, head of fixed income, will assume oversight for the U.S. based credit research team.
Stephanie Giroux was appointed director of research at Fiduciary Trust Co. International, New York. She is replacing Christian Kaefer, who is leaving to pursue other interests. Ms. Giroux, who will lead a team of 15 research analysts and serve as a member of the firm's investment policy committee and global investment forum, was previously managing director and director of research at U.S. Trust, New York. U.S. Trust spokeswoman Heather Fontain said she will be replaced.
David A. Hershey was promoted to director of research, a new position, at Lotsoff Capital Management, Chicago. His primary duty will be to develop new hedge fund products, he said. Mr. Hershey was a senior portfolio manager for core fixed income. Co-manager Robert J. Willemse, portfolio manager, will assume sole management.
Tom Hoey joined Netols Asset Management, Mequon, Wis., as a senior vice president and senior analyst, said Jeff Netols, president of the firm. The position is new. Mr. Hoey previously was a portfolio manager at Putnam Investments Inc., Boston. He left in March; his duties as portfolio leader of Putnam's Midcap Value fund were assumed by Edward Shadek and James Polk.
Frank Antin was named executive director at Mellon Institutional Asset Management, Boston. He will coordinate the firm's institutional sales activities across marketplaces. Mr. Antin was an executive vice president and will continue with those duties. He replaces Guy Hudson, who will return to the United Kingdom but continue to work for Mellon.
Tim Cumming was named executive vice president and director of global development at Old Mutual Asset Management, Boston, a new position. He had been chief executive of Old Mutual Asset Managers (South Africa), Cape Town, until January, when he was succeeded by Sello Moloko; since then, he has been working on special projects for the firm.
Adam M. Craig will join Essex Investment Management Co. LLC, Boston, as vice president in charge of client relations, a new position. He is a senior consultant at Mercer Investment Consulting, Boston. There are no immediate plans to replace him.
Larry A. Kohn left Quellos Group LLC, Seattle, an official at the hedge fund of funds firm confirmed.Mr. Kohn was a managing director in the firm's New York office. No further details could be obtained.
Bruce Amlicke joined Blackstone Alternative Asset Management, a New York hedge fund-of-funds manager, as chief investment officer; Hal Lindquist was appointed chief investment strategist. Both are new positions. Mr. Lindquist was senior investment officer at Blackstone; he won't be replaced. Mr. Amlicke had been global chief investment officer in the alternative investment solutions group of UBS O'Connor LLC, Chicago. Mike Welch, a UBS managing director, will assume Mr. Amlicke's duties, said spokeswoman Jennifer Plunkett.
Thomas Kuntz joined Wilshire Associates, Santa Monica, Calif., as managing director and director of hedge fund research. Mr. Kuntz, based in New York, replaces Kevin O'Donnell, who left earlier this year. Mr. Kuntz was director of research and managed four hedge fund of funds portfolios at The Archstone Partnerships LLC, New York. Information on his replacement wasn't available.
Michael R. Thompson was hired by American Express Asset Management Group Inc., Minneapolis, as a vice president, institutional sales for the Northeast. The position is new. Mr. Thompson was a vice president of institutional marketing at Pilgrim Baxter & Associates Ltd., Wayne, Pa.; a Pilgrim spokesman couldn't confirm if Mr. Thompson had been replaced.
Nathan J. "Nate" Kornfeld was named chief operating officer and executive vice president at GMAC Institutional Advisors LLC, a new position at the Horsham, Pa., money manager. Mr. Kornfeld previously was director of strategic planning and mergers and acquisitions at GMAC Commercial Mortgage Corp., the parent of GMACIA. He will continue in that role until a replacement is found, said GMAC Commercial Mortgage Corp. spokeswoman Joyce Patterson.
Mark Lippmann joined The Praedium Group LLC, a New York real estate money management firm, as vice president. In the new position, Mr. Lippmann will spearhead acquisitions and investments in the South. Mr. Lippmann had been senior managing director with Kennedy Wilson Inc., Beverly Hills, Calif., and was responsible for real estate acquisitions and non-performing loans.
Michael Reeves joined Third Avenue Management LLC, New York, in the new position of senior managing director to oversee institutional sales and client services. He previously was vice president at NewSouth Capital Management Inc., Memphis. Information on his replacement wasn't available at press time.
Richard Kunzer was appointed vice president of the institutional sales group at Credit Suisse Asset Management, New York, a new position. He was head of institutional business development at Singer & Friedlander Investment Management Ltd., London, where his replacement is being sought.
Edward Bedard was appointed managing director and global head of fund services at Morgan Stanley Investment Management, a new position at the New York-based firm. He will direct global fund administration, accounting and planning for the firm's institutional, intermediary and individual businesses. Previously Mr. Bedard was managing director, chief administrative officer and treasurer at Banc of America Capital Management, Charlotte, N.C. No information about a replacement was available by press time.
James Mallozzi was hired as a senior vice president to lead the marketing and strategy organization at Prudential Retirement, a unit of Prudential Financial Inc., Newark, N.J. He replaces Paul Chong, who is leaving to pursue an entrepreneurial venture. Mr. Mallozzi was vice president and director of strategic initiatives for investment products at the Hartford Life Insurance Co., Hartford, Conn. His duties there will be assumed by others.
Tom McConnell joined Vanguard Ventures, Palo Alto, Calif., as a general partner, a new position. Mr. McConnell had been a general partner at New Enterprise Associates, Baltimore, but left earlier this month after the private equity firm closed its last fund. No information was available on whether he'll be replaced.
Jessen M. Fahey was named senior pension consultant and regional vice president at Ceridian Retirement Plan Services in the St. Petersburg, Fla., office. He will lead the firm's sales efforts in the Southwest, a new territory for he firm. He was national director of consultant relationships in the Dallas office of Milliman USA; Milliman is seeking a replacement.
Merri Jo Gillette was named regional director of the Securities and Exchange Commission's Midwest regional office in Chicago, and Mark K. Schonfeld was named Northeast regional director in New York. Ms. Gillette is associate district administrator for enforcement in the Philadelphia office. She replaces Mary Keefe, who became associate general counsel and head of global compliance at hedge fund manager Citadel Investment Group, Chicago. Mr. Schonfeld is an associate director for enforcement in the Northeast, and has been acting director since Wayne M. Carlin left to become a partner in a law firm.
David Wray was named chairman of the ERISA Advisory Council for 2004 by Labor Secretary Elaine L. Chao. Mr. Wray is the president of the Profit Sharing/401(k) Council of America.