Harish Kumar was hired as managing director of New York Life Investment Management's equity investors group, a new position. He will help manage the firm's quantitatively driven large-cap growth and aggressive growth strategies, said Tony Elavia, CIO of quantitative strategies who oversees the equity group. Mr. Kumar was a senior large-cap growth portfolio manager at ING Investment Management. Hugh Whelan, head of quantitative strategies at ING, will take on Mr. Kumar's responsibilities until a replacement can be found.
Bruce Bartlett was hired as director of growth equity investments at Lord, Abbett and as lead portfolio manager for the firm's growth equity strategy. The positions were created because the firm wanted a more senior person managing its growth equity strategies, said Jason Farago, spokesman. Mr. Bartlett will report to Robert Morris, director of equity investing. Rosalia St. Louis, who oversaw the firm's large-cap growth fund, will remain a portfolio manager for the strategy. Mr. Bartlett was director of growth equity investing at OppenheimerFunds and had been at the firm for nearly two decades. He was replaced by David Poesz, who was hired in June 2004, said Jeaneen Pisarra, an OppenheimerFunds spokeswoman. Mr. Poesz was a growth equity portfolio manager at Merrill Lynch Investment Managers.
Francesco Mainolfi will join hedge fund-of-funds manager Richcourt Group as CIO June 1, said John P. Mensack, CEO. The position is new. Mr. Mainolfi was a principal investment officer at the $12 billion World Bank Pension Fund, Washington, where he was head of the hedge fund investment team and responsible for managing the pension fund's $1.5 billion hedge fund allocation. He also managed a due diligence team that covered all investment strategies. Officials with the World Bank have not yet named a replacement, and Mr. Mainolfi's responsibilities will be temporarily divided among other officials, he said. Damian Sean Milverton, World Bank spokesman, did not return a call by press time seeking comment. Mr. Mainolfi also co-developed the bifurcated fund analysis model, a hedge fund investment allocation model that combines asset allocation with hedge fund component investing, using factor exposures and risk analytics to integrate manager selection with portfolio construction and risk management.
Stuart Stanley joined INVESCO Fixed Income in London as a portfolio manager on the firm's European high-yield bond team, and Jeffrey Gallo joined the high-yield bond team in New York as an analyst covering the media, services, telecom and technology sectors, said spokesman Bill Hensel. Both positions are new. Mr. Stanley was head of European high yield for AXA Investment Management, according to an INVESCO press release; Samantha Yuide, AXA's spokeswoman in London, was not immediately available for comment. Mr. Gallo was an analyst for J.&W. Seligman; when asked about a replacement, spokeswoman Rebecca Shroyer said the company doesn't comment on personnel matters.
Lisa B. Baird joined the global financial services practice of executive search firm Spencer Stuart as a consultant, said Richard S. Lannamann, vice chairman. The position is new. Ms. Baird was director of research at Greenwich Associates, where she was a leader of the firm's competitive challenges benchmarking survey for asset managers. Greenwich Associates spokesman David Deschenes wasn't immediately available for comment on a replacement.