Brian Collett was hired as the first CIO for the $3 billion Missouri Local Government Employees Retirement System, Jefferson City, said Bob Ashcroft, chairman of the investment committee. Mr. Collett will begin in mid-April. Mr. Collett's hiring has put a search for an investment consultant on hold, and fund officials decided they will hire consultants "as needed," Mr. Ashcroft said. Prior consultant Summit Strategies resigned in September 2004 through an agreement with the fund. Custodian Northern Trust will continue to review the pension fund's investment policy and asset allocation. Mr. Collett was senior research manager for the $24 billion South Carolina Retirement System, Columbia; his responsibilities are being divided among the staff and there is no timetable for hiring a replacement, said South Carolina Treasurer Grady L. Patterson Jr.
Simon Vanstone was appointed CEO at AXA Rosenberg Investment Management in London, replacing Will Jump, who will return to the firm's Orinda, Calif., headquarters as head of technology and production. Mr. Vanstone was head of European marketing and sales and will retain those responsibilities, he said.
Nathan Partain will become president of Duff & Phelps Investment Management, replacing John Riddle, who is leaving to form his own firm, said Nicole Laudenslager, public relations director for parent company The Phoenix Cos. Mr. Partain will remain president and CEO of Duff & Phelps closed-end funds, CIO of DNP Select Income Fund and portfolio manager of the firm's open-end utility fund for the adviser market, Ms. Laudenslager said. Duff & Phelps is focusing on REIT, nuclear decommissioning trust and utility investment strategies and exiting its other equity strategies. Mr. Riddle will take $100 million in quantitative equity and market-neutral assets with him to his new firm, Ms. Laudenslager said. As of Feb. 28, Duff & Phelps had $5.8 billion under management.
Craig E. Ruch was hired by Victory Capital Management as a managing director in the fixed-income management team, a new position, said Thomas Seay, fixed-income CIO. Mr. Ruch will oversee portfolio management, credit research and trading, and will report to Mr. Seay. Mr. Ruch was a corporate bond portfolio manager at Credit Suisse Asset Management. He will not be replaced immediately and his responsibilities will be assumed by the firm's 22-person core bond team, said Suzanne Fleming, CSAM spokeswoman.