Hugh Herndon was named by U.S. Bancorp Fund Services as vice president of sales for the central United States, a new position, said Amy Frantti, spokeswoman. Mr. Herndon will be responsible for selling fund administration, accounting and distribution, transfer agent, custody and partnership services to mutual funds and hedge funds. He joined the firm from consultant Strategic Initiative, a firm he owned and operated before joining U.S. Bancorp. The firm is closed.
Mike Duncombe and Peter Murray were appointed independent trustees for Best Trustees. Best Trustees now has a pool of 12 independent trustees who advise corporate trustee boards across the U.K, according to a news release from the firm. Mr. Duncombe currently chairs the trustee board of the £296 million BASF PLC U.K. Group Pension Scheme, Cheadle, England, said Clive Gilchrist, managing director of Best Trustees. Mr. Duncombe is former chief executive of £16 billion Royal Mail Pension Scheme. Mr. Murray is former chief executive of £14 billion Railways Pension Trustee Co. Both men retired late last year.
Mitshiro Matsunaga was appointed general manager and director of Asian client development for hedge fund of funds Ivy Asset Management's new office in Tokyo. He will oversee a new Asian-based research department that will identify and select Asian hedge fund managers for Ivy's hedge fund-of-funds strategies, according to a statement from the company. Mr. Matsunaga was a deputy general manager at Daiwa SMBC Securities, a subsidiary of Sumitomo Mitsui Banking.