The Public School Teachers' Pension and Retirement Fund of Chicago plans to search for a replacement for Michael J. Nehf, executive director, who is on a leave of absence until Dec. 31, when he will leave the fund, said Patricia Townsend Knazze, president of the $10.3 billion fund. Kevin Huber, chief financial officer, was named interim executive director, she said.
Mr. Nehf's contract had been renewed for one year in August, but the board decided on the change, Ms. Knazze said. Mr. Nehf is using vacation days during his leave. She would not provide further details on his departure.
An executive search firm might be hired to look for candidates when the board discusses how to proceed with the search; Ms. Knazze didn't have a timetable. Mr. Nehf couldn't be reached for comment.
Jerrold Mitchell, chief investment officer of the $32.4 billion Massachusetts Pension Reserves Investment Management Board, Boston, announced his retirement Oct. 5. Mr. Mitchell said he will remain on PRIM's investment committee. Mr. Mitchell had been PRIM's CIO since May 2001.
Executive Director Michael Travaglini said that with Deputy CIO Stan Mavromates and the rest of the PRIM staff taking care of business, there's no urgent need to name an interim CIO. The fund will set up a search committee and look at replacements over the next few months. Mr. Travaglini said Mr. Mavromates will likely be among the candidates considered.
The Missouri Local Government Employees' Retirement System, Jefferson City, will search for its first chief investment officer within 60 days, said Bob Ashcroft, chairman of the $2.8 billion fund's investment committee. Most of the responsibilities that will fall to the new CIO have been handled by Keith Hughes, assistant executive secretary. There is no timeframe yet on when a decision will be made.
Tommy O. Huie was named president and chief investment officer of M&I Investment Management, said Sara Sherlund, spokeswoman. He replaces David Schulz, who left M&I in late June. Ms. Sherlund would not say why Mr. Schulz left the firm. Mr. Huie was vice president for TRW Investment Management, responsible for in-house equity portfolio management and oversight of various equity and fixed-income investment disciplines. William MacDougall, CIO and managing director for TRW Investment, could not be reached by press time for comment.
Simon O'Regan was named chairman and chief executive officer of Mercer Human Resource Consulting U.K. He will replace David Barford, who will retire at year's end. Mr. O'Regan is CEO of Mercer Human Resource Consulting's Australia and New Zealand business; he will be replaced by Peter Promnitz. Mr. Promnitz was national practice leader for Mercer's Superannuation & Trusts business, according to Mercer's website.
William C. Dierker was named senior vice president at Federated Investors and will be senior portfolio manager of Federated's global equity investment management team, a new position. He and Kevin R. McCloskey, vice president and senior portfolio manager, will share management responsibilities for Federated's global value mutual funds, including the Federated American Leaders and Stock Trust funds, and separately managed accounts. Mr. Dierker was managing director of the value team at Banc One Investment Advisors and was portfolio manager for the One Group Large Cap Value Fund.
Separately, Stephen A. Crane was named a senior investment analyst at Federated Investors, covering the banking sector. He replaced another analyst who left the company, whom Federated spokeswoman Lindsy Carmella would not identify. Mr. Crane was an analyst at Banc One Investment Advisors, covering the financial services sector.
A Banc One spokeswoman said neither Mr. Dierker nor Mr. Crane would be replaced. Their duties have been absorbed by staff at Banc One's merger partner, JPMorgan Fleming Asset Management.
Virginie Maisonneuve was named head of EAFE for Schroders, said Julian Samways, spokesman. She will be responsible for all global ex-U.S. large-cap equity mandates, with a goal of building the firm's EAFE products globally. It is a new position. Schroders is moving all of its EAFE management to London; some EAFE strategies had also been managed in New York. Ms. Maisonneuve will gradually take over the responsibilities of Richard Foulkes, senior EAFE manager, who is retiring.
Ms. Maisonneuve currently is co-chief investment officer at Clay Finlay, New York. She will not be replaced.
Kamran Baig was named vice president and director of non-U.S. equity research at T. Rowe Price International, said Steven E. Norwitz, spokesman. He replaces Gonzalo Pangaro, who will return to full-time portfolio management, said Mr. Norwitz. Mr. Pangaro took over management of the T. Rowe Price Latin America Fund at the start of this year and will play a larger role on the emerging markets investment team. Mr. Baig was co-head of European research at Goldman Sachs Asset Management. Goldman Sachs spokeswoman Andrea Raphael couldn't immediately provide information about a replacement for Mr. Baig.
Wendy Fox was named chief compliance officer at Ariel Capital Management, a new position, said Erik Ojala, assistant general counsel. Ms. Fox was an attorney adviser at the SEC, said Mary Veon, SEC human resources assistant. Ms. Veon could not provide information about a replacement for Ms. Fox.