Michael J. Clowes, editorial director of Pensions & Investments and...

Michael J. Clowes, editorial director of Pensions & Investments and sister publication InvestmentNews, on Wednesday received the Lillywhite Award from EBRI. Mr. Clowes joined Pensions & Investments in 1973. He shared the award with William Anthes, chief executive and president of the National Endowment for Financial Education. Mr. Anthes was president of the College for Financial Planning, Denver, from 1979 to 1992. "It's incredibly flattering and a great honor because Ray Lillywhite was a great person, and to get an award named after him is quite astonishing," Mr. Clowes said. "To be recognized with Bill Anthes is also tremendously flattering." The award was established by the Employee Benefit Research Institute, Washington, in 1992 to celebrate contributions by individuals who have had distinguished careers in the investment management and employee benefits field, and whose outstanding service enhances economic security. It is presented annually. The award was named for Ray Lillywhite, who for decades guided state employee pension plans. Mr. Lillywhite retired from Alliance Capital in 1992 at age 80. He died last year.

Richard Lindquist and six members of his high-yield bond team at Credit Suisse Asset Management will move to HSBC Investments (USA). Mr. Lindquist will be managing director and head of U.S. high yield, said Stephen Cohen, HSBC spokesman. It is a new position. He said Mr. Lindquist will join the firm "sometime in the next two months." Mr. Lindquist will report to Gregg Diliberto, global head of fixed income, and he will be part of the firm's new specialized alpha investment business, which will be named HSBC Halbis Partners. The formation of the new business remains subject to legal and regulatory approvals. Mr. Cohen noted HSBC has not had any high-yield capability in the United States until now. Mr. Lindquist was managing director and head of the high-yield bond team at CSAM. Joining him at HSBC will be Misia Dudley, Philip Schantz, Mary Ann Thomas and John Tobin, who will be senior vice presidents, and John Dessauer and Michael Dugan, who will be vice presidents; Mr. Dugan was a client portfolio manager and the others were credit analysts. Ashweeta Durani, Credit Suisse spokeswoman, said Dennis Schaney, global head of fixed income, and Michael Gray, global head of credit research, will temporarily share Mr. Lindquist's former responsibilities. Suzanne Fleming, Credit Suisse spokeswoman, said the firm isn't commenting further on the vacated positions. She noted the seven individuals comprised the entire high-yield bond team.

David J. Erfort and Gregg L. Kerr joined Quest Investment Management as vice presidents, focused on marketing and servicing for institutional clients, said Cameron M. Johnson, senior vice president. Both positions are new. Mr. Erfort, who also holds the title of portfolio specialist, will work to expand Quest's client base in the Midwest and the East Coast, said Mr. Cameron. Mr. Kerr will be based in San Francisco, adding to Quest's West Coast presence, where the bulk of the firm's clients are located. Mr. Erfort was a consultant at Consulting Services Group through September 2004. Mr. Kerr was a marketing executive at Fox Asset Management. Meg Pier, spokeswoman for Fox parent Eaton Vance Management, couldn't immediately be reached for comment on whether or not he has been replaced.

Graham Nicol joined JPMorgan Fleming Asset Management head of international credit strategy, said spokeswoman Emma Collins. It is a new position. He will report to Richard Oswald, managing director, fixed income, according to a news release. Mr. Nicol was a London-based senior portfolio manager for Western Asset Management. Jeffrey Bukowski, a spokesman for WAMCO parent Legg Mason, said information about whether Mr. Nicol will be replaced isn't immediately available.