Lawrence Davanzo, a senior managing director of Wilshire Associates...

Lawrence Davanzo, a senior managing director of Wilshire Associates, will head the firm's funds management division, replacing Michael J. Napoli Jr., who left to pursue other interests, according to Kim Shepherd, Wilshire spokeswoman. Mr. Davanzo also will continue to lead the firm's strategic development, Ms. Shepherd said. In addition, Thomas Kuntz, a managing director, and Daniel Johnedis, a vice president, were terminated, Ms. Shepherd said. Mr. Kuntz was director of hedge fund research; Mr. Johnedis handled due diligence and manager selection. Ms. Shepherd said Michael Tito, a vice president who reports to Mr. Davanzo, is responsible for the firm's hedge fund group. "We have been realigning personnel to meet the needs of our current clients and our business strategy moving forward," Ms. Shepherd said in an e-mail. "While we were able to transfer some employees to other business units within Wilshire, unfortunately, the skill sets of a few employees were no longer needed, and they have left the firm."

Jason Dillow and Vijay Mohan were named research analysts by hedge fund manager Halcyon Asset Management. They will join the investment team of the Halcyon Structured Opportunities Fund, said Steven Mandis, CIO of the fund. Messrs. Dillow and Mohan were associates in the special situations investing group of the fixed income, currency and commodities division of Goldman Sachs. Michael Duvally, a spokesman for Goldman Sachs, declined to comment on replacements.

George R. Kramer will be deputy general counsel at the Securities Industry Association, confirmed Margaret Draper, an SIA spokeswoman. It is a new position. Mr. Kramer has been in the SIA's legal department for 10 years, and before that he spent time on Capitol Hill and at the SEC. Separately, John Anderson was named vice president and director, legal affairs, at the association, Ms. Draper said. It is also a new position. Mr. Anderson was policy director and head of government affairs at the International Swaps and Derivatives Association. Louise Marshall, a spokeswoman for ISDA, said the organization is looking for a replacement.