Mark Connolly, European head of institutional distribution at Deutsche Asset Management, will leave the post at the end of this month after only three months in the job. Mr. Connolly worked for Paul Manduca, DeAM's European CEO, who will leave the firm at the end of March once a strategic review of the business is completed. Mr. Connolly in an interview said he was leaving by mutual agreement with the company. He said his job was being eliminated after parent Deutsche Bank in December decided to restructure the firm along global business lines. Axel Schwarzer, European head of institutional and retail distribution, will assume Mr. Connolly's responsibilities until the global restructuring is completed, said Esther Nass, DeAM spokeswoman.
Ann Yerger was named executive director of the Council of Institutional Investors. She had been interim executive director since Sarah Ball Teslik resigned in September to become CEO of the Certified Financial Planners Board of Standards. Ms. Yerger joined CII in 1996 as director of research services and was named deputy director in 2002. Russell Reynolds Associates assisted.
Frederick W. "Bill" Scholz was named to the new position of president of Gabelli & Partners, the alternative investment division of Gabelli Asset Management Inc. Mr. Scholz was managing director of Gabelli Asset Management Co., the institutional client marketing division of the company. He has been with Gabelli since 1985, said Douglas Jamieson, president and COO of Gabelli Asset. Information about Mr. Scholz's replacement in the marketing unit was not immediately available.
Bill Joy was named a partner of venture capital firm Kleiner, Perkins, Caulfield & Byers. He was co-founder and chief scientist of Sun Microsystems Inc., Santa Clara, Calif. He left there in September 2003 and joined the board of trustees of the Aspen Institute, a non-partisan think tank, in 2004. Mr. Joy has worked with Kleiner Perkins since he co-founded Sun in 1982. Before then, he helped design and write the Berkeley UNIX operating system.
Clive Hollick was named a managing director at Kohlberg Kravis Roberts, effective in April. The position is new. He will focus on media and financial service investments. Mr. Hollick is outgoing CEO of United Business Media, a publishing and media group that owns a stake in British television network ITN. David Levin, CEO of Symbian PLC, will succeed Mr. Hollick as CEO of United.