Jack Gastler joined Acadian Asset Management as a senior vice president; he will focus on marketing and client service, said Churchill Franklin, Acadian executive vice president in charge of sales and marketing. It is a new position. Mr. Gastler was a vice president, sales/client service, at Nicholas-Applegate Capital Management. His responsibilities were assumed by other members of the Nicholas-Applegate team, said spokeswoman Sue Hunter.
Martin A. Smith, a principal at Penn Capital Management, was promoted to senior portfolio manager, from portfolio manager. In addition, research analysts J. Paulo Silva and Kevin C. Roche were promoted to portfolio manager and principal, respectively. Messrs. Silva and Roche will retain their research analyst duties, and the firm is also bringing on a new research analyst this month, according to a spokesman. Penn Capital has $850 million in assets under management.