Tim Chervenak will be president and COO of ICM Asset Management, effective June 1, said Seraphima Steffy, spokeswoman. The firm's board of directors also recently elected current president and CIO Jim Simmons to the new post of CEO, effective June 1. Mr. Simmons will retain his position as CIO, and Mr. Chervenak will replace him as president. Mr. Chervenak will also replace former COO Jay Babineau, who left the firm earlier this year to return to the branding and creative services industry in a non-financial role, Ms. Steffy said. The board and Mr. Simmons have been performing the COO's duties temporarily. Mr. Chervenak was West Coast regional director and Seattle branch manager of Piper Jaffray, where he reported to John Breon, director of branches. Neither Mr. Breon nor Piper Jaffray spokeswoman Susan Beatty returned calls by press time seeking comment.
Deborah Winstead was named assistant treasurer of the $250 million National Public Radio endowment, Washington. It is a new position. She is in charge of investing the $200 million gift Joan Kroc, widow of McDonald's founder Ray Kroc, left to NPR in November 2003. "We have not deployed all of the gift yet into investments and are taking a slow approach," she said. Ms. Winstead was a senior investment analyst at the $750 million Smithsonian Institution, Washington.
Samuel J. Gottesman was hired as COO at investment banking and securities brokerage firm Blaylock, confirmed outside spokesman J. Todd Smith. Mr. Gottesman replaced Cheryl Whaley, who was acting COO and remains an adviser to the firm, which also announced its conversion to a corporation from a partnership. Mr. Gottesman was executive director overseeing distribution and marketing at Commerzbank Capital Markets. Information on a replacement was not available.
James Parker joined Asset Alliance as managing director and head of the firm's London-based affiliate, Asset Alliance International. Mr. Parker is responsible for developing the alternative asset manager's international presence, including coordinating manager acquisitions and joint ventures as well as marketing, distribution and new product development. Mr. Parker was global head of marketing for the alternative investment group in ABN AMRO's London office. He also managed the bank's Asia-focused hedge funds of funds. Michael Castino, a spokesman for ABN AMRO, did not return a call seeking information about Mr. Parker's replacement. Mr. Parker replaces Michael Azlen, who left at the end of the first quarter to form his own firm, said Scott Helfman, a spokesman for Asset Alliance. Mr. Azlen's new firm, Frontier Capital Management, provides asset allocation advice and hedge funds to institutional, family office and high-net-worth investors.