Virginia Retirement System, Richmond, hired executive search firm PrinceGoldsmith to find a replacement for CIO Nancy Everett, who will join General Motors Asset Management as CIO on June 1. No deadline has been set for hiring a replacement, said Jeanne Chenault, spokeswoman. Charles Grant is acting CIO of the $40 billion fund.
John Yeager was named director of marketing for the North American distribution team at INVESCO. He replaces Ron Klotter, who joined RQSI, a hedge fund, according to INVESCO spokesman Bill Hensel. Further information about Mr. Klotter's new position was not available. Mr. Yeager is retaining his responsibilities as director, affiliate sales/marketing, administration at INVESCO.
Michael Fechter joined Babson Capital Management as a managing director and a client service officer, said Amanda Grant, managing director and head of client services. The position is new, as Babson is "methodically building out" its client service structure, Ms. Grant said. Mr. Fechter was a senior vice president at State Street Research & Management. Brian Beades, spokesman for BlackRock, which acquired State Street Research & Management earlier this year, declined to comment.
Brian Hurley joined Horizon Cash Management as senior director of marketing. The position is new. Mr. Hurley will assume oversight of marketing for the firm, which provides customized portfolio management and treasury services to hedge funds, funds of funds, futures funds and family offices. Mr. Hurley was president and co-owner of a Chicago-based advertising agency, Fairman Schmidt & Hurley.
Adrienne Grant joined Angeles Investment Advisors as a managing director of advisory services, said Leslie Kautz, principal. This is a new position. Previously, Ms. Grant was first vice president of investments in Merrill Lynch's private banking and investment group. Merrill Lynch spokeswoman Jennifer Grigas could not provide information on a replacement by press time.
James E. Gnecco joined Yanni Partners as a senior consultant. The position is new. He had been a consultant at regional consultant Spagnola-Cosack, which was acquired by PFM Advisors. Mr. Gnecco left Spagnola-Cosack more than a year ago.