Donald H. Putnam , co-founder and CEO of Putnam Lovell NBF, was...

Donald H. Putnam, co-founder and CEO of Putnam Lovell NBF, was terminated by parent company National Bank Financial earlier this month because of a dispute between Mr. Putnam and top NBF executives over the handling of an escrow account set up at the time NBF bought Putnam Lovell in 2002, said a source familiar with the situation who declined to be named. The account had been scheduled for distribution roughly two-and-a-half years after the purchase, which was completed June 19, 2002, the source said. Mr. Putnam confirmed that he left but declined to discuss the details. He said he is starting Grail Partners, a new investment bank focused on the money management industry, which aims to advise "a small number of clients (and) invest a small amount of capital." Mr. Putnam helped launch Putnam Lovell in 1987. Lawrence Haber, executive vice president of Putnam Lovell parent National Bank Financial, confirmed that Mr. Putnam had left, due to "irreconcilable differences over a number of matters." He declined to comment on specifics. Mr. Haber said Putnam Lovell and Mr. Putnam will continue to work together on a couple of mandates. He also said NBF remains fully committed to Putnam Lovell and its "great team of bankers."

Mark A. Marinella was named a managing director and head of the cash management business at BlackRock, a new position, said company spokesman Brian Beades. He will lead BlackRock's cash management operations, which had $78 billion in assets under management at the end of 2004. Mr. Marinella will also join former State Street Research & Management CEO Richard Davis on BlackRock's 22-member management committee. Mr. Marinella was CIO of fixed income at SSRM, which BlackRock acquired on Jan 31. Mr. Marinella said reports that he would be leaving after the acquisition were premature, and senior BlackRock executives worked hard to craft the kind of leadership position he had been seeking.

Scott Erickson and John Stonestreet joined real estate investment and management firm Rockpoint Group as directors of asset management. Rockpoint also hired Tatsushi Iwano as a senior manager in the Tokyo office; Paisley Boney and Peter Fleiss as associates in the Boston office; and Timothy Inbody as an associate in San Francisco. The associates will focus on acquisitions and asset management. Rockpoint has $1 billion under management.

Robert A. Simms, the founder of Simms Capital Management, sold his majority stake in the firm to colleagues Thomas L Melly, Jennifer D. Miller and Arthur O. Poltrack, making them the "primary owners," said Pamela Segal, director of marketing and client services. Mr. Simms will still be involved in investment management and client relationships for the firm, which manages over $540 million, according to a press release. Mr. Melly was named CIO of the firm's U.S. large-cap growth strategy, and Ms. Miller was named CIO of its international strategy.