Michael Goldman and Matthew Nurick - founders and major shareholders of Momentum Asset Management, acquired by Pioneer Alternative Investments in 2002 - are no longer co-CIOs at PAI. Now that hedge funds-of-funds manager Momentum has been fully integrated into PAI, Mr. Goldman will become senior investment adviser and provide guidance in the investment process under the terms of a new three-year contract, said Lorraine Gallagher, a Pioneer spokeswoman. Mr. Nurick has left the firm; his plans were not known. Longtime Momentum senior portfolio managers and directors Mark Barker and Gregory Knott assumed the co-CIO roles. As part of the management shakeup, Ms. Gallagher said Paolo Barbieri was named deputy CEO of Pioneer Alternative Investments and assumed oversight of the London-based hedge funds-of-funds operations. He had been general manager of PAI Milan. Separately, PAI reported that its assets under management were $5.2 billion as of Dec. 31, up from $3.1 billion a year earlier.
J. Alain Hung was named head of fixed income at the State of Wisconsin Investment Board, Madison. His duties include overseeing the $17.8 billion public fixed-income division for the Wisconsin Retirement System, which has $70 billion in assets. He will also oversee the $3.9 billion state investment fund, a pool of cash balances of various state and local governmental units. Mr. Hung replaces Jon Traver, who retired Dec. 31. Chirag Gandhi was promoted to portfolio manager of the $2.7 billion internally managed global fixed-income portfolio, replacing Mr. Hung. SWIB will search for a replacement for Mr. Gandhi, although details haven't been posted yet, said Vicki Hearing, public information officer. Todd Ludgate was promoted to portfolio manager of the $3.6 billion government credit portfolio, replacing Sally Lee, who retired Jan. 31. Mr. Ludgate was a security analyst for the portfolio. SWIB is searching for a replacement for Mr. Ludgate; qualifications include extensive knowledge of accounting principles, business finance and the workings of global economies. The application deadline is Feb. 21. Anyone who's interested in either position should contact SWIB.
John M. Holman was appointed vice president, fixed income at the New York Stock Exchange, confirmed Big Board spokesman Christiaan Brakman. It is a new position. Mr. Holman, who is scheduled to join the exchange on Feb. 7, will be responsible for expanding fixed-income trading business. He was a managing director at Piper Jaffray; information on a replacement for Mr. Holman was not available by press time.