Paul Duncombe took over today as managing director for the U.K. business of State Street Global Advisors, said Sally Todd, spokeswoman. Mr. Duncombe will report to Mark Lazberger, senior vice president and head of international businesses, and Jean-Francois Schock, regional managing director for Europe. He replaces Nigel Wightman, who left the firm earlier this year. Mr. Duncombe was global head of currency management at SSgA. Tony Spence was promoted from senior investment manager to fill that role; Mr. Spence's new title is global product head for currency management. Ms. Todd did not have any information regarding Mr. Spence's previous position.
Doug Cummings was named vice president of marketing at Bradford & Marzec. It is a new position, Mr. Cummings said. He will report to Lee Scholey, principal and director of marketing. Mr. Cummings was a vice president in PIMCO's marketing department, and Mr. Scholey was a senior vice president in PIMCO's institutional direct marketing group until mid-March. "Doug's addition to (the firm) will give us more marketing clout and greater access to some of the most coveted institutional prospects in the country," Mr. Scholey said in a news release. Mr. Cummings will focus on developing the firm's plan sponsor relationships. The firm manages about $5 billion in total assets. When asked about a replacement, PIMCO spokesman Mark Porterfield said in an e-mail the firm is "always looking for exceptional candidates."