Giordano Lombardo was named deputy CEO at Pioneer Investments. In this new position, he will assume oversight of investments, operations and commercial activities from CEO Dario Frigerio. Mr. Frigerio will retain oversight of strategic issues, audit risk and compliance, as well as the wealth management division of Pioneer's parent company, UniCredit Italiano. Mr. Lombardo was global CIO of Pioneer's traditional investments. Lorraine Gallagher, a spokeswoman, said his replacement will be named on Tuesday.
Thomas O'Brien was hired as vice president and quantitative equity portfolio manager for Northern Trust Global Investments, confirmed Kurt Ross, spokesman. It's a new position. Mr. O'Brien will manage domestic equity index funds and report to Alexander J. Matturri Jr., director of global equity index management. Mr. O'Brien was a principal and portfolio manager at State Street Global Advisors. Carolyn Cichon, SSgA spokeswoman, did not return a call requesting information about his replacement by press time.
Paul Kelly joined the London office of Towers Perrin as a senior consultant, said Rob Dwyer, spokesman. It is a new position; the firm is expanding its global consulting group. Mr. Kelly reports to Nigel Bateman, head of Towers Perrin's global consulting group. "Paul's experience of both managing pensions from a corporate perspective and consulting to major global clients will bring some interesting insights to our clients as well as to the (global consulting group) team," said Mr. Bateman. Mr. Kelly was director of pensions at Vodafone Group, Newbury, England, where he oversaw the company's £2.5 billion ($4.86 billion) in pension assets. Bobby Leach, Vodafone spokesman, could not comment by press time on the status of Mr. Kelly's previous position. Mr. Kelly was a European partner for William M. Mercer, where he advised multinational pension plans, before he joined Vodafone in late 2002.
John J. Gallagher Jr. was named acting executive director of the Policemen's Annuity and Benefit Fund of Chicago, replacing James B. Waters Jr., who resigned from the $3.7 billion plan on Oct. 31. Mr. Gallagher is the plan's comptroller. According to the January 2005 edition of the fund's newsletter for plan participants, Mr. Waters had been an employee of the fund for 37 years. A receptionist at the fund's offices said Mr. Waters had retired. Mr. Gallagher did not return phone calls seeking more information about a permanent replacement for Mr. Waters.