Charles W. Grant was named acting CIO of the $42 billion Virginia Retirement System until a permanent replacement can be named for Nancy Everett, who will become CIO of General Motors Asset Management on June 1. Mr. Grant has been the deputy CIO since Jan. 1. The Richmond-based system also named Wallace "Bo" Harris acting director until a permanent replacement is named for Forrest Matthews, who announced his retirement earlier this year. Mr. Harris is senior deputy director of the pension fund. The system is using executive search firm EFL Associates to assist in the executive director search. Also, Paul W. Timmreck was named chairman of the board by Gov. Mark R. Warner. Mr. Timmreck was vice-chair of the board; he replaces Alfonso Samper, whose term expired Feb. 28. Mr. Samper will remain on the board as vice chairman.
Amy Falls was named CIO of Phillips Academy, Andover, Mass., said Tana Sherman, director of public information. Ms. Falls will work with the school's investment committee and CFO Stephen Carter to oversee management of the academy's $620 million endowment. It is a new position. Ms. Falls was a managing director and co-head of global fixed-income strategy for Morgan Stanley, covering the U.S. market. Morgan Stanley spokesman Mark Lake said the firm is looking for a replacement.
Nigel Wightman, the managing director in charge of U.K. operations for State Street Global Advisors, resigned, said spokeswoman Arlene Roberts. Mr. Wightman's duties will be assumed by Jean-Francois Schock, the managing director in charge of SSgA's European operations, she said. "If and when" SSgA replaces Mr. Wightman, the position is likely to be filled internally, she said. Asked if Mr. Wightman's departure is connected to last month's resignation of group CIO Alan Brown, Ms. Roberts said Mr. Wightman left for personal reasons.
Thomas F. Eggers was named president of The Dreyfus Corp., said Patrice M. Kozlowski, spokeswoman. He also was named chairman and CEO of the company's marketing arm, Dreyfus Service Corp. Michael G. Millard held all three positions. Mr. Millard will work with Mr. Eggers through a transition period and will be available for "various projects," said Ms. Kozlowski; further information was not available. Mr. Eggers was president and CEO of Scudder Investments; earlier in March, Axel Schwarzer was named head of the company.
Robert Wagner was promoted to CEO of Victory Capital Management, said spokesman Ronald Petrie. Mr. Wagner remains president, a position he assumed in July 2004. He replaces Rick Buoncore, who is leaving Victory Capital to launch a hedge fund, said Mr. Petrie.
Joseph McInerney was promoted to COO at Northern Trust Global Advisors, the manager-of-managers subsidiary of Northern Trust Bank. It is a new position. Mr. McInerney was the product manager for alternative investment funds, and the firm is seeking his replacement, said Kurt Ross, a firm spokesman. Darren Kimsey, Kaz Sikora and Nicole Neubelt were also hired as manager researchers. Mr. Kimsey was co-director of U.S. equity manager research at consultant Evaluation Associates, where Mr. Sikora was director of international equity manager research. Ms. Neubelt was a researcher in the manager-of-managers group at Goldman Sachs Asset Management. Jeff Van Orden, managing director of Evaluation Associates, said the firm is seeking replacements for Messrs. Kimsey and Sikora. A Goldman Sachs spokeswoman did not return calls by press time.
Thomas Benzmiller was named managing director of Northern Trust Co. of Hong Kong, a new position, confirmed Richard Jurek, Northern Trust spokesman. Mr. Benzmiller was director, corporate markets, at Northern Trust Global Investments in Chicago. Mr. Jurek said Mr. Benzmiller will be replaced, but the position has not yet been filled.
Also, Sue Baines was hired by Northern Trust as vice president, business development in the firm's global fund services unit in London, Mr. Jurek said. The position is new. Ms. Baines will be responsible for custody, fund administration and investment operations outsourcing business development for asset managers based in the United Kingdom and continental Europe. She was deputy head of origination at Clearstream International, which is seeking her replacement, according to Clearstream spokesman Graham Cope.
Henry B. Smith was named president and CEO of W.P. Stewart & Co., said Susan Leber, deputy managing director, financial operations. William Stewart, former CEO, will remain chairman. Mr. Smith has been a director of W.P. Stewart since June 1998; he is chairman of the executive committee of the board and was a member of the board's audit committee. Also, Rocco Macri was appointed managing director and COO; he was deputy managing director and CFO. He replaces John Russell, who will remain as deputy chairman. "We view this as part of overall succession," Ms. Leber said. Ms. Leber will replace Mr. Macri as deputy managing director and CFO. The management changes take effect May 1. W.P. Stewart has $9.3 billion in assets under management.
William Thummel was promoted to COO for the Americas region at Jones Lang LaSalle, effective April 15. He replaces Mark Rose, who recently became CEO of Grubb & Ellis. Mr. Thummel was a global account executive at Jones Lang LaSalle.
John H.F. Miner, vice president of Intel Corp. and president of its venture capital group, Intel Capital, is leaving on June 1. Mr. Miner is looking for other opportunities and is not retiring, said Chuck Mulloy, Intel spokesman. Arvind Sodhani, senior vice president and treasurer of Intel Corp., will become president of Intel Capital effective immediately.
Clay Carter joined Perennial Investment Partners as senior portfolio manager for global equities; he will manage the U.K. component of the firm's global equity portfolio, said Marsha Beck, manager-investment services. The new position "goes to strengthening Perennial's multiregional approach to managing its global diversified equities product," Ms. Beck said. Mr. Carter was senior portfolio manager-international equities at QBE Insurance Group. Officials at QBE were unavailable for comment by press time. Perennial Investment had A$12.7 billion (US$10 billion) in assets under management as of Feb. 28.
Scott Simon was named portfolio manager at the $775 million University of Colorado Foundation, Boulder, said Christopher Bittman, chief investment officer. It is a new position. Mr. Simon is responsible for research and due diligence on the foundation's existing portfolio and potential managers, Mr. Bittman said. Mr. Simon was director of due diligence at National Planning Holdings, the retail distributor for Jackson National Life. Before that, he was a portfolio manager at Qwest Asset Management.
Jonathan Shelon was named co-portfolio manager of the Fidelity Freedom Funds. He joins existing portfolio manager Ren Cheng in managing about $32 billion in Fidelity's series of 10 lifecycle mutual funds, said John Brockelman, a Fidelity spokesman. It is a new position. Mr. Shelon will remain co-manager of the Advisor series of nine Fidelity Freedom Funds and an associate portfolio manager of 529 college savings plans for the states of New Hampshire, Massachusetts and Delaware.
Javier Ferran and George Sewell were hired as directors of Hicks Muse Europe, a new private equity firm that split off from Hicks, Muse, Tate & Furst in January. They will start this month; both are new positions. Mr. Ferran was president and CEO of Bacardi Ltd.; Mr. Sewell was president of Quaker European Foods.
Akinori Matsui, Richard E. Tyson Jr. and David Young were promoted to executive vice presidents at PIMCO, according to a news release. Mr. Matsui remains account manager for PIMCO Japan in Tokyo; Mr. Tyson remains senior global operations manger in Newport Beach, Calif.; and Mr. Young remains head of the firm's London-based account management group. PIMCO has $445 billion in assets under management.
Jack McAllister joined American Realty Advisors as portfolio manager for several large separate account clients using both core and enhanced core investment strategies, said David Schrock, manager of marketing and client service. It's a new position. Mr. McAllister was vice president, institutional investment affairs for the National Association of Real Estate Investment Trusts. NAREIT has not yet replaced him, said Rob Valero, vice president, investor relations.
Gareth Derbyshire joined investment bank Merrill Lynch in London as managing director of the firm's year-old Europe, Middle East and Africa pension fund group. He will focus on asset-liability modeling with European clients and will report to Dawid Konotey-Ahulu, head of the EMEA pensions group, said Terez Hanhan, Merrill Lynch spokeswoman. Mr. Derbyshire was previously managing director of the European pensions group at Morgan Stanley, London. His duties will be reassigned temporarily to his colleagues until a replacement is found, said Morgan Stanley spokesman Hugh Fraser.
Patrick Thomson has joined the London office of hedge fund-of-funds manager Ivy Asset Management as head of European client service. The position is new, said Ivan Royle, an Ivy spokesman. Mr. Thomson was a managing director, based in the Singapore office of JPMorgan Asset Management. He headed the firm's Sovereign range of asset management strategies and services for governments and central banks. Mary Sedarat, a spokeswoman for JPMorgan, said Andrew Williams, a managing director and member of the Sovereign team, replaced Mr. Thomson.
Roger Edelen joined Mellon Capital Management as a senior strategist, said Mike Dunn, spokesman. It is a new position. Mr. Edelen, who reports to CIO Thomas Hazuka, is responsible for helping the firm capture excess return in enhanced indexing products and refining its trading strategies. He was a managing director at ReFlow Management, a mutual fund trading consultant. Before that, he was a finance professor at the Wharton School at the University of Pennsylvania, focusing on investment strategies. Mellon Capital, a subsidiary of Mellon Financial Corp., has $131.5 billion in assets under management.
Paul D. Scanlon, managing director and portfolio manager, was promoted to team leader for U.S. high-yield investing at Putnam Investments, and Anton D. Simon, managing director and senior portfolio manager, was named head of European high-yield investing, said Nancy Fisher, spokeswoman. Mr. Simon established Putnam's European high-yield capability at New Flag Asset Management, which he co-founded in 1999 and was acquired by Putnam in 2002. Messrs. Scanlon and Simon replace Stephen C. Peacher, who is resigning, said Ms. Fisher. Mr. Scanlon will replace Mr. Peacher as portfolio leader for the Putnam High Yield Trust, High Yield Advantage and Floating Rate Income funds and Managed High Yield Trust, and as team member of Putnam Diversified Income, Putnam Master Intermediate Income and Putnam Premier Income trusts, according to a news release. Mr. Peacher, in a telephone interview, said he will join Columbia Management Group to head the firm's taxable fixed-income product. Columbia spokesman Tom Gariepy said Columbia executives are "very pleased" Mr. Peacher will be taking on a leadership position at the firm.
Doreen Mochrie joined multistrategy hedge fund Cyprus Capital Partners as a managing partner and director of marketing, a new position. She was a managing director of marketing at Lombard Odier Darier & Hentsch. Ms. Mochrie said in an interview she moved to Cyprus because it was a good opportunity to be an equity partner in the firm. "I had five good years at Lombard Odier," she said. Cyprus was launched Jan. 1 as a spinoff from Och-Ziff Capital Management Group. Joseph Gieger, president of Lombard Odier's North American business, said he has not yet determined if Ms. Mochrie will be replaced.
Four founding partners of KPS Special Situations Funds, who left the firm in January, formed Monomoy Capital Partners, a private equity firm focused on smaller distressed, underperforming and orphan businesses. Stephen Presser, partner, was a principal and senior member of $600 million KPS Special Situations family of funds; Daniel Collin and Justin Hillenbrand, partners, were associates of the KPS acquisition and restructuring team; and Philip Von Burg, partner, was a KPS managing director. The new firm plans to invest in bankrupt or near-bankrupt businesses with sales of less than $120 million, Mr. Hillenbrand said. At KPS, Jay Bernstein was promoted to senior vice president, said Michael Psaros, a KPS principal. The firm also hired Bruce Curley as a senior vice president and Ilya Koffman as an associate. Mr. Curley was CEO of Curtis Paper Inc., and Mr. Koffman was a consultant with Alvarez & Marsal, a management consulting firm.
Stephen A. Balter joined Pioneer Investment Management as a portfolio manager, said spokeswoman Tara Pescatore. A Pioneer research analyst between 1996 and 2000, Mr. Balter will co-manage the Pioneer Growth Shares Fund and the Pioneer Mid Cap Growth Fund with Christopher Galizio. It's a new position. Mr. Balter was a portfolio manager at 2100 Capital Group, the fledgling hedge fund arm of Marsh & McLennan that the insurance broker recently disbanded.
John Slavik joined Loomis, Sayles as vice president and portfolio manager in the specialty growth equity group, said spokesman Chris Lazzaro. Mr. Slavik, with portfolio manager Mark Burns, will oversee management of the firm's small-cap growth investment strategies, including institutional separate accounts and mutual funds. Mr. Slavik replaces David Smith and Christopher Ely, both vice presidents and portfolio managers, who are leaving to pursue other opportunities, Mr. Lazzaro said. Loomis, Sayles manages $63 billion in assets. Mr. Slavik was vice president, portfolio manager and investment committee member at Westfield Capital Management, which has $7.5 billion in assets under management, said Morton Fearey, Westfield vice president and director of marketing. Westfield Capital is seeking someone to replace Mr. Slavik on the investment committee, Mr. Fearey said.
Steven P. Luetger was named a senior managing director at Mesirow Financial Investment Management, responsible for enhancing the firm's fixed-income products, said spokeswoman Katie Schimmel. The position, focusing on asset-backed securities, is new. Mr. Luetger was managing director and head of the Chicago-based fixed-income team at Columbia Management Group. Also joining Mesirow from Columbia are Mark E. Newlin as managing director, investment-grade corporate securities; Peter W. Hegel as managing director, mortgage-backed securities; and James J. Kilbane, as managing director, consultant relations and client services. All three positions are new. Messrs. Newlin and Hegel were senior vice presidents and fixed-income portfolio managers at Columbia; Mr. Kilbane was a managing director of consultant relations and client services for the firm. Columbia spokesman Tom Gariepy wasn't immediately available for comment.
Steve Crosby was named head of TowerGroup's securities and investments consulting unit, a new position, confirmed Faye Nikolaidis, spokeswoman. He will be based in TowerGroup's Westport, Conn., office. Mr. Crosby was executive vice president at British Telecom responsible for the company's financial services operations in the Americas; information on a replacement for him was not available.
Susan A. Douse joined Grail Partners as a partner and the head of the advisory merchant bank's new London office, according to a statement released by Grail. Ms. Douse said in an interview she plans to hire two more executives this year, but that the firm — which also has offices in Boston, London, New York and San Francisco — will remain a small niche player focused on the investment management industry. Donald H. Putnam, who co-founded Putnam Lovell NBF Securities in 1987, left that company to set up Grail Partners in February. Ms. Douse was global head of product management and consultant relations at Schroders. Schroders spokesman Richard King said Ms. Douse will not be replaced, reflecting a change in the firm's strategy whereby consultant relations will be managed by regional executives.
Francis Clisham was named regional director of the San Francisco office of the Labor Department's Employee Benefit Security Administration, according to a Labor Department news release. He replaces Bette Briggs, who retired. Mr. Clisham was regional director of EBSA's New York office. He has not yet been replaced in New York; Jonathan Kay is serving as acting regional director, said Michael Shimizu, a spokesman.
Ted White will become deputy executive director at the Council of Institutional Investors. He will succeed Ann Yerger, who was promoted to executive director last year. Mr. White, who plans to work from a home office in Sacramento, Calif., was portfolio manager for CalPERS' corporate governance program. The $186.3 billion California Public Employees' Retirement System, Sacramento, will seek a replacement for Mr. White, who, along with William Sherwood-McGrew, oversees $2.4 billion in corporate governance investments as well as the fund's overall corporate governance efforts. In the interim, Senior Investment Officer Christianna Wood will take a stronger role in overseeing the area, said CalPERS spokesman Brad Pacheco in an e-mail.
Diann Howland was named director of pensions for the Senate Health Education Labor and Pensions Committee under its new chairman, Sen. Michael Enzi, R-Wyo. Ms. Howland returns to Capitol Hill after a year as vice president of retirement policy at the American Benefits Council, Washington; a replacement has not yet been named. Before that, she was pensions adviser to Sen. Charles E. Grassley, R-Iowa, chairman of the Senate Finance Committee.
