John R. Krimmel was named CIO of the $13.4 billion Kentucky Retirement Systems, Frankfort, effective early next month. He will replace Robert Leggett, who became executive director of the $4.5 billion New Hampshire Retirement System, Concord. Mr. Krimmel is CIO of the $13.5 billion Illinois State Universities Retirement System, Champaign; his last day on the job is today. Dan Allen, deputy CIO, was named acting CIO. James M. Hacking, SURS executive director, said an executive recruiting firm will be hired to lead a national search for candidates to replace Mr. Krimmel. RFPs for the recruiter search will be available from the system. Mr. Hacking hopes to present recruiting-firm finalists to the board in mid-February. The process may take four to six months, he added. Qualifications for CIO candidates include investment experience, preferably with a public retirement system, although candidates without such public background will be considered. William P. Hanes, Kentucky Retirement executive director, couldn't be reached by press time for comment.
The investment committee of the $3 billion Missouri Local Government Employees' Retirement System, Jefferson City, will meet Jan. 27 to consider applicants for the system's first CIO, said Bob Ashcroft, chairman of the investment committee. The committee will likely determine a timeline for interviews and when a selection will be made. Keith Hughes, assistant executive secretary, has been handling most of the duties that will be given to the new CIO. Mr. Ashcroft said the committee will address the investment consultant search initiated late last year after the CIO search is complete.
Rachel S.L. Minard joined hedge fund-of-funds manager Dubin & Swieca Capital Management as director of global marketing, a new position, said Tracy McHale Stuart, CEO. Ms. Minard will oversee marketing of the firm's funds, which total about $1 billion, including a formal launch to U.S. institutional investors. Ms. Minard was director of marketing at Cadogan Management. Jack Estes, who was a principal at David J. Greene & Co., replaced her at Cadogan. He will oversee marketing of Cadogan's new registered hedge fund of funds specifically for ERISA pension plan clients, which replicates the firm's flagship investment strategy. Michael Greene, David J. Greene spokesman, said a search will begin soon for Mr. Estes' replacement.
Scott Farden was named managing director, chief marketing officer at Red Brick Capital, a start-up company founded by ex-Harvard Management Co. international equity portfolio managers Tony Morgan and Jeffrey Baum. The position is new. Mr. Farden was a managing director and head of the institutional asset management business of State Street Research. He left after the firm was acquired by BlackRock last year.
Brett Felsman was named director of client service and business development at Strategic Investment Group, a new position, said Deborah D. Boedicker, principal. He will market the firm's fiduciary outsourcing services, alternative asset management strategies and hedge funds of funds. Mr. Felsman was director of institutional business development at Global Asset Management. Craig Brunel, co-director, temporarily assumed Mr. Felsman's duties while a search is under way for a replacement, said William T. Blase, Global Asset spokesman. Harry Murray also joined Strategic Investment Group in the client service and business development department, said Ms. Boedicker. He does not have a title, she said. Mr. Murray was vice president and head of client relations at Hartford Investment Management until May 2004, said Cynthia Michener, Hartford spokeswoman. He was replaced by John Gallic, who had been working in Hartford's marketing department for the previous three years, Ms. Michener said.
Changhong Zhu was named managing director at PIMCO, according to Mark Porterfield, spokesman. Mr. Zhu, PIMCO's derivatives specialist, will continue to work as a portfolio manager on the government, agency and derivatives desk, and is a member of PIMCO's analytics group and investment committee.
Lauralee F. Martin, CFO for Jones Lang LaSalle, was also named chief operating officer, said Gayle Kantro, spokeswoman. The COO post has been vacant for the last two years, Ms. Kantro said.