Nobel laureate William F. Sharpe will receive the inaugural Fred Arditti Innovation Award from the Chicago Mercantile Exchange for his role in developing the Capital Asset Pricing Model and the Sharpe Ratio for portfolio analysis, according to a news release from the exchange. The award is named after the CME's former chief economist. The award was announced by the CME Center for Innovation, which the exchange established in 2003 to identify and foster examples of "significant" innovation and thinking relating to markets, commerce and financial services. Mr. Sharpe will receive the award at a recognition dinner on Jan. 18 in Chicago.
Bryan Collings was named global head of emerging markets at Baring Asset Management, said Jill Hendry, spokeswoman. He replaces Kate Munday, who was named director of client service, a new position. Mr. Collings was director, emerging market equities with Deutsche Asset Management in London. DeAM is doing a strategic review of its operations and hasn't decided yet whether to fill Mr. Collings' position, said Esther Nass, spokeswoman.
Laurence Bryan, system administrator of the $1.2 billion U.S. Virgin Islands Government Employees' Retirement System, St. Thomas, was relieved of his duties by the board of trustees effective immediately, said Willis C. Todmann, CFO. He declined to give details. Raymond James, chairman of the retirement board and acting administrator, said the board decided "to go in a new direction." It will issue an RFP shortly for Mr. Bryan's replacement, and Mr. James said he hopes to have a new administrator in place by the end of January.
Anthony Conroy was named managing director and head trader at BNY Brokerage, confirmed Andrew Sprung, spokesman. Mr. Conroy oversees sales trading for BNY's broker-assisted trading unit, Institutional Trading Services. The position is new. He was managing director and head trader for the hedge fund unit at Merrill Lynch Investment Management. Merrill Lynch spokeswoman Megan Frank declined to comment about a replacement for Mr. Conroy.