Paul Cavazos was hired as director-pension and investments at Navistar International Corp. overseeing its $3 billion defined benefit, $519 million 401(k) and $672 million voluntary employees' beneficiary association funds. He will also oversee investment strategy and guidelines for corporate cash. Mr. Cavazos replaced Annette Freund, who was named director-compensation and benefits at Navistar. He was senior manager-investment strategy and asset allocation at Boeing Co., Chicago, which has $41 billion in defined benefit assets and $23 billion in 401(k) funds. Boeing officials couldn't be reached regarding Mr. Cavazos' replacement.
Peter Baxter was named CEO of Old Mutual Asset Managers (UK), said Tucker Hewes, spokesman. Mr. Baxter replaces John Ainsworth, who is leaving the firm. Mr. Baxter was deputy CEO. A U.K. spokesman could not be reached to comment on Mr. Ainsworth's plans or whether the deputy CEO position would be filled.
Francesco Mainolfi will join hedge fund-of-funds manager Richcourt Group as chief investment officer June 1, said John P. Mensack, chief executive officer. 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. Damian Sean Milverton, World Bank spokesman, did not return a call by press time seeking comment.
Paul Aaronson joined hedge fund index investment manager PlusFunds Group as chief executive officer, said Meir Kahtan, spokesman. He will replace Gabriel Bousbib, who resigned as president and CEO in December to pursue other interests. Mr. Aaronson was executive managing director of the portfolio services group at Standard & Poor's, which includes S&P's index services and portfolio advisory business. David Guarino, S&P spokesman, said the firm has not yet filled Mr. Aaronson's position.
Veronique Courlier joined AXA Investment Managers as global head of hedge funds activities. She will be based in London. Ms. Courlier was senior vice president and head of alternative investments at Olympia Capital Management. Further information was not available by press time.
Shaun Mays was appointed global head of RREEF Infrastructure Investments, the new name of Deutsche Asset Management's infrastructure investments business, and Felicity Gates was appointed chief investment officer, said Rohini Pragasam, spokeswoman. Mr. Mays was head of DeAM's Australia unit and Ms. Gates was head of infrastructure, acting as its CIO. The new group will be a unit within RREEF/DB Real Estate, DeAM's real estate investment group. It had been a unit of DB Capital Partners.
"We are rebranding the business because it is moving to be in the RREEF/DB Real Estate product line and will be headquartered in the U.S., where the brand for the real estate business is RREEF," Ms. Pragasam said.
David C. Turner was promoted to head of the U.S.-based private equity group of WestAM, the asset management arm of WestLB AG. He was director for WestAM's private equity group and member of the executive committee. Mr. Turner replaced Don Phillips, chief investment officer and head of the U.S.-based private equity group, said Connie J. Kain, spokeswoman. Mr. Phillips' plans are not known. Mr. Turner will retain some of his previous duties; the rest will be assigned to others in the private equity group, Ms. Kain said.
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, said Jeaneen Pisarra, an OppenheimerFunds spokeswoman.
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, chief investment officer 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.
Barclays Global Investors hired four people for its London office to help develop fixed-income hedge fund strategies. Heather DeGarmo was named as a portfolio manager for the European long-short credit fund; John Maskell, head of interest rate strategies; Allan Lane, head of its European fixed-income technology and analytics team; and Sebastian Guglietta, a senior fixed-income portfolio manager, said Tom Taggart, a BGI spokesman. All are new positions, and all four report executives report to Tim Webb, head of European fixed-income advanced active strategies, said Mr. Taggart.
Ms. DeGarmo worked in the London office of Goldman Sachs Asset Management; Mr. Lane was at Royal Bank of Scotland; Mr. Maskell was at Barclays Bank; and Mr. Guglietta was at Barep Asset Management. Details on their previous jobs or their replacements could not be learned by press time.
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.