NEW YORK — Thomas F. Eggers, president and CEO of Deutsche Asset Management unit Scudder Investments, will leave the firm in about a month, according to sources familiar with the firm. Those sources say that William N. Shiebler, president and CEO of Deutsche Asset Management Americas, also is rumored to be leaving, although that could not be confirmed.
Mr. Shiebler, who is co-head of the firm's global mutual funds group along with Axel Benkner, was lured out of retirement in 2002 after serving as president and CEO of Putnam Investments' mutual funds group. DeAM spokeswoman Rohini Pragasam declined to comment.
One source said Mr. Eggers' three-year contract is set to expire at the end of March and that he was informed by the firm's CEO, Kevin Parker, that his contract will not be renewed. The same source said Mr. Eggers' impending departure is part of a restructuring plan Mr. Parker set in motion late last year. One executive recruiter familiar with the firm said DeAM is searching for Mr. Eggers' replacement both internally and externally.
Several high-ranking DeAM officials departed in December shortly after the firm announced its new structure: Paul Manduca, Deutsche Asset Management's CEO for Europe; James Goulding, CEO for Asia; and Josh Weinreich, global head of absolute-return strategies.
San Francisco City and County Employees' Retirement System is searching for a senior investment officer. Carl Wilberg, who currently holds the position at the $12.7 billion fund, announced his retirement, but he will stay on through the transition period, said David Kushner, deputy director for investments. The senior investment officer will assume management of the retirement system's $6.3 billion in equity assets. Applications are available at http://sfgov.org/dhr/.
Larry A. Kohn will assume joint oversight of J.P. Morgan Alternative Asset Management with CIO Peter Zumo. The two will replace President and CEO Joel Katzman when he retires April 30, Mr. Katzman said. Mr. Kohn joined the hedge funds-of-funds manager Feb. 28 and will handle the administrative and operations side as head of business management. It is a new position. He was managing director and an institutional marketer at hedge funds-of-funds manager Quellos Group, which he left last June. JPAAM manages nearly $9 billion in hedge funds-of-funds strategies.
Glen Hilton, portfolio manager with AIM Investments, was named lead manager of the AIM Global Value Fund, said David Bachert, spokesman. Mr. Hilton, who has been on the fund's management team since 2002, replaces Roger Mortimer, who left the firm; further information was not available. In addition, Derek Izuel will become lead portfolio manager and Eric Thaller will become a member of the management team for the AIM Opportunities I, II and III funds in May, replacing Messrs. Mortimer and Hilton.
Robert L. Strickland was named president of Fidelity Investments Canada, said spokesman Vincent Loporchio. Mr. Strickland replaces David Denison, who left Fidelity to head the CPP Investment Board, according to a press release. The board manages assets of the C$77.2 billion (US$62.3 billion) Canada Pension Plan, Ottawa. Mr. Strickland was executive vice president and head of Fidelity Advisor and Alliance Distribution; Mr. Loporchio said Fidelity has not yet named a replacement.
Victor Ugolyn was named president and CEO of William D. Witter, replacing Dean "Kip" Witter III, who became chairman, a new position. Putnam Lovell NBF assisted in a financial transaction in which Mr. Ugolyn took a minority stake in Witter. Terms were not disclosed. Mr. Ugolyn was chairman, president and CEO of mutual fund company Enterprise Capital Management. William D. Witter subadvises the Enterprise Small Company Growth Fund. Steven Joenk assumed Mr. Ugolyn's duties at Enterprise Capital, in addition to his roles as chairman, president and CEO of the funds management group at Enterprise parent AXA Financial, said Jeff Tolvin, an AXA spokesman.
Gerard Vecchio was named director of the private equity group at Century Capital Management, a new position, according to Patrick J. Carolan, managing director. Mr. Vecchio was a partner with Conning Capital Partners. Preston Kavanagh, CFO at Conning Capital, did not return a call by press time seeking information on Mr. Vecchio's position.
Bradford S. Greenleaf joined Putnam Investments as a managing director and portfolio manager on the global core equity team; he will focus on quantitative inputs, said spokeswoman Laura McNamara. He will also become a member of the portfolio management team for the Putnam Global Equity Fund, she said. Mr. Greenleaf was most recently director of international equities at Independence Investment, where he managed portfolios based mostly on a quantitative investment process, Putnam said in a news release. An Independence spokesman said Mr. Greenleaf left in 2003 and wasn't replaced; Independence sold the unit he was working in. The spokesman declined to give further details.
Ben Kottler joined MFS Investment Management as a vice president and investment specialist for global and international equity portfolios; he will be responsible for communicating the firm's investment strategies to clients, said spokesman David Oliveri. It is a new position. Mr. Kottler was a senior international portfolio manager with State Street Global Advisors. Arlene Roberts, SSgA spokeswoman, said his responsibilities have been assumed by other staff members.