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."