Lesley Kaye and Michael Lai, both investment directors and portfolio managers of several Asian hedge funds at GAM Group, were named co-managers of the GAM Pacific Basin Fund. They replace John Mytton, investment director, who died on Dec. 19 while vacationing in South Africa. Mr. Mytton was responsible for GAM's Asian and Pacific hedge funds and was co-head of the Pacific investment team with Ms. Kaye. Ms. Kaye retains oversight of GAM's Japanese hedge funds.
Anne Underhill was hired by Fortis Investments as a portfolio manager; she will focus on global health care and biotechnology companies, said CEO Will Braman. She replaces Gerd Philippaerts, who resigned from the firm's five-member global equities team at year's end; no information was available as to why he left. Ms. Underhill was a portfolio manager with Baring Asset Management, where she focused on global health care companies. BAM spokeswoman Gina Solomon said Ms. Underhill's responsibilities will be handled by other team members until a replacement is found.
Three top lawyers from the PBGC set up their own law firm in Washington. James J. Keightley, general counsel of the Pension Benefit Guaranty Corp. since 1995, and Harold J. Ashner, assistant general counsel for legislation and regulations at the agency since 1988, are now partners at Keightley & Ashner. William G. Beyer, lead bankruptcy lawyer at the PBGC and deputy general counsel from 1991 to 2004, is of counsel to Keightley and Ashner.
Joseph P. Healy joined Bernstein Investment Research and Management as senior vice president, retirement products. In the new position, he will be responsible for marketing the firm's retirement products to defined contribution plans. Mr. Healy was director of advisory wealth management services at T. Rowe Price. Brian Loubart, a spokesman for T. Rowe Price, said Mr. Healy's duties were being assumed by several other people at the firm.